Russell Investments has combined its institutional and intermediary defined contribution (DC) teams to capture the growth opportunities across all DC market segments.
Josh Cohen and J.T. Young, managing directors of DC will jointly lead the defined contribution team.
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The company said that Cohen and Young will work with plan sponsors, consultants, advisors, record keepers, and key partners to bring institutional-quality DC solutions to U.S. retirement plans.
Russell Investments CEO for Americas Institutional Greg Gilbert said: "The industry is growing, as is our DC business, and we are aligning our resources to be well positioned to continue to drive forward momentum. In fact, in the first quarter of 2016, our U.S. DC business alone is outpacing last year’s U.S. DC-specific AUM growth by about 13%."
Young was previously responsible for the mid-market OCIO team as well as marketing and product development in Russell Investments’ U.S. institutional business.
In partnership with DC industry expert Cohen, Young will now be focused exclusively on the development and growth of the DC business across all channels.
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By GlobalDataThe company also added Nathan Dudley, director, defined contribution, to the combined team. He most recently led institutional product development in the US.
Also, Kevin Knowles has been promoted to associate director, defined contribution. In his new role, he will assume expanded responsibilities for the methodology, positioning and distribution of DC products, including ARA.
The company added that Knowles will work closely with Dudley to continue the seamless rollout of the ARA platform to new clients.
