Brian Burke was named risk management officer at Russell Investments, and Lance Babbit was named senior portfolio manager, hedge funds.
Both positions are new and are based in New York, confirmed Kerstin Osterberg, a spokeswoman. The addition are part of Russell’s expansion of its alternative investments capabilities.
Mr. Burke will focus on analyzing risk in both external manager portfolios and Russell’s hedge fund-of-funds portfolios. He was executive director and head of the analyst team at Measurisk, which was acquired by MSCI last summer. Patrick Clifford, an MSCI spokesman, could not provide information about Mr. Burke’s replacement by press time.
Mr. Babbit will have investment oversight of Russell Investments’ commingled and customized hedge fund-of-funds portfolios. He was director and head portfolio manager for the Americas in Credit Suisse’s alpha strategies group. Suzanne Fleming, a Credit Suisse spokeswoman, said Mr. Babbit’s duties have been assumed by others on the investment team.
Both will report to Egidio “Ed” Robertiello, managing director, hedge funds.