Mark Russell was named head of fund management, real estate for Federated Hermes, the firm announced Feb. 12.
It is a new position that Chris Taylor, CEO of Federated Hermes real estate, said in an email was created after an internal review last year.
Russell will start Feb. 19 and be based in London reporting to Taylor. He will oversee real estate with the private markets platform.
"We currently see profound structural changes affecting how occupiers seek to use both commercial and living space. Therefore, we are positioning our real estate growth strategy to ensure we can create both relevant and resilient real estate outcomes for our clients by continuing to ensure we remain focused upon occupational demand drivers for real assets," Taylor said.
Russell was a partner with commercial property investment manager Orchard Street Investment Management, where he managed large core/core-plus funds and helped launch a value-added strategy for impact investing in real estate. He joined Orchard Street in October 2020 from Legal & General Investment Management where he was a senior fund manager.
Taylor said Russell shares the firm's conviction "that long-term sustainable performance is delivered by a fully integrated adoption of ESG-related risks and opportunities."
Federated Hermes had $757.6 billion in assets under management as of Dec. 31.