Pascal Duval was appointed CEO of Europe, Middle East and Africa at Russell Investments, company spokesman Alex Jones said.
Based in London, Mr. Duval will replace Len Brennan, who rejoined Russell in July 2011 as president and CEO, as well as CEO of the EMEA region. Mr. Brennan will continue in the president and CEO role.
(Mr. Brennan had been manager of individual investor services at Russell when he left in 2005 to join Rainier Investment Management as president and CEO.)
Mr. Duval will also retain his current responsibilities as executive managing director of the EMEA region, a role he has held since 2008. Mr. Duval, who will report to Mr. Brennan, joined Russell in 1994 to launch its Paris office.
In the past year, Russell has expanded its capabilities in the EMEA region, notably adding about $5 billion in gross inflows to its fiduciary management, multiasset and manager-of-managers units, according to data provided by Russell.
“In many ways, investors are tested in their ability to achieve their objectives within very challenging risk constraints, whether due to solvency issues or new regulatory environments in many markets,” Mr. Duval said in a news release about the appointment.
“This is an exciting time to lead our EMEA business,” Mr. Duval added. “There is an immediate opportunity to have a meaningful impact for investors.”
Mr. Duval could not be reached by press time for comment.
