Michael J. Phillips joined Federal Way Asset Management on April 14 as chairman and CEO.
The position is new, Mr. Phillips confirmed in an interview.
Mr. Phillips was most recently chairman of Russell Investments from 2002 to 2008 as well as CEO from 1993 to 2003.
Mr. Phillips has managed personal investment projects, served on the boards of several business groups and was chairman of the non-profit 20-20 Investment Association since his departure from Russell Investments, he said during an interview.
FWAM was founded in July 2012 as an alternative investment-focused outsourcing company by Salim Shariff, who had been chief of investments at Weyerhaeuser Co., Federal Way, Wash.
After Mr. Shariff's departure, Weyerhaeuser hired FWAM, which is based in the same town, to provide investment outsourcing services for the company's $4.7 billion defined benefit plan.
FWAM manages a total of $5 billion for pension funds, family offices and private pooled investment vehicles.
“I am very happy to be working for a local company that not only has a solid investment process, but also a strong, value-based culture,” Mr. Phillips said.
