Robert Hostetter was named global head of product at Russell Investments, confirmed spokesman Travis Fishstein in an email.
The position is new. Mr. Hostetter will develop the firm's capabilities to help its clients achieve specific outcomes. He will working across the company's money management, investment outsourcing, implementation and advice services. He will report to Michelle Seitz, chairwoman and CEO.
Mr. Hostetter was managing director and global head of product strategy at AllianceBernstein (AB). He was replaced by Matthew D. Bass, senior vice president and global head of alternatives and multiasset business development, said AB spokeswoman Angela Tu.
Russell Investments manages $298 billion in assets as of March 31.