Jeffrey Eng was named director of retirement income for Russell Investments' Americas Institutional business, confirmed spokeswoman Holly Holt.
The position is new.
Mr. Eng, who joined Russell last month, is overseeing products and services for defined contribution plans, including, “working with institutional clients on custom target-date fund solutions,” according to a Russell news release. He also will work with Russell researchers “on the efficacy of various annuitization and managed distribution approaches,” the news release said.
Mr. Eng reports to Richard Davies, managing director-defined contribution for Russell's Americas Institutional business.
Mr. Eng was vice president and product director of defined contribution investments for AllianceBernstein, the news release said. Mr. Davies, who joined Russell in June, had been senior managing director, defined contribution and subadvisory relationships, at AllianceBernstein.
"We are recruiting for this (Mr. Eng's) position, as well as for a senior-level retirement income executive, as part of establishing a broader DC retirement income team,” John Meyers, a spokesman for AllianceBernstein, said in an e-mail.