Russell Investments selects BlackRock executive as CEO, chairman

Zach Buchwald will assume the roles of CEO and chairman of Russell Investments effective May 1.

He replaces Michelle Seitz, who left the company last year.

Mr. Buchwald formerly was head of BlackRock‘s North America institutional business.

Previously, he was a managing director and head of BlackRock’s institutional business for the U.S. and Canada.

In December, BlackRock announced Armando Senra had taken on responsibility for the institutional client business in the U.S. and Canada, among other responsibilities. Previously, Mr. Senra was head of the Americas iShares and index business.

Mr. Buchwald will be based in the company’s Seattle headquarters, a news release said Wednesday.

His focus will be on “driving the global investment solutions firm’s next phase of growth,” particularly given an intensifying need for outcome-oriented solutions “when the global capital markets are demanding agile, risk-managed total portfolio management,” the news release said.

“We believe Zach is the ideal leader to further Russell Investments’ innovation in asset management,” said Todd R. Crockett, managing director at TA Associates Management, in the release.

TA and Reverence Capital Partners acquired Russell Investments in 2016.

“I’ve long admired Russell Investments’ unique legacy as a pioneer in investment consulting, OCIO, portfolio implementation and much more,” Mr. Buchwald said in the release.

Russell had $276.5 billion in assets under management as of Dec. 31.

A Russell spokeswoman could not immediately be reached.