Updated with correction
Lisa Schneider was named managing director, non-profits and health-care systems, at Russell Investments' investment outsourcing business, confirmed spokeswoman Kate Stouffer.
It is a new position. Ms. Schneider becomes the business leader for the non-profit and health-care segment of Russell's overall fiduciary solutions business and will develop the suite of investment strategies, products and reporting tools for Russell's clients and prospects. Ms. Stouffer said the promotion was a result of Russell's expanding investment outsourcing business.
Ms. Schneider was most recently managing director, client service, at Russell. She was replaced by Bruce Clarke, who was a senior client executive. They both report to Greg Gilbert, CEO, Americas institutional.
Russell Investments has $173 billion in assets under management.