Joseph Gelly was named managing director, Canada institutional, at Russell Investments Canada, he confirmed.
It is a new position. Mr. Gelly focuses on all of Russell's core institutional business areas — fiduciary solutions, consulting and implementation services — and reports to David Feather, president and CEO. Mr. Gelly said interest in fiduciary solutions, or investment outsourcing, is really starting to emerge in Canada and will be a focal point of his new role.
“We've had a lot of our clients … really starting down the path to evaluating this option,” Mr. Gelly said in a telephone interview. “It's a similar trend to what's going on in the U.S.”
Mr. Gelly previously was managing director, fiduciary solutions, for Russell's Americas institutional business. Eric Macy, managing director, fiduciary solutions, has assumed his responsibilities.