Global asset manager Russell Investments has appointed John Venardos to head its implementation services business in the Australasian region. Based in its Sydney office, he will assume the role on June 18.

 

“Indications are that growth in Russell’s transition management business in 2014 will exceed 30% within Australasia,” said John R Moore, managing director, implementation services, Asia-Pacific. “This is being driven by a massive trend in the region – and around the globe – towards pure agency models. It follows years of more and more cases being made public, highlighting issues of revenue transparency, conflicts of interest and questions around best execution practices during transitions.”

 

Venardos brings to Russell more than 20 years experience in implementation services and transition management. He was previously director, transition management, Asia-Pacific for BNY Mellon, responsible for new transition management business. Prior to this, he held senior implementation services positions at RBC Dexia and BNP Paribas.

 

Russell’s expertise in implementation services includes transition management, interim portfolio management, portfolio emulation, overlay services, FX agency trading, commission recapture and liability driven investment. In 2013, Russell traded more than US$1.6 trillion through its implementation services business.

 

Venardos will replace Daniel Birch, who will shift across as a new addition to Russell’s Australian institutional business development team. Russell’s Australian institutional business has seen strong growth in 2014, winning mandates totaling more than US$3 billion in the year to date, across master trust, implemented consulting and asset management services.

 

Drawing on 15 years experience in the finance industry, Birch will be responsible for building new business, focussing on investment partnerships with large funds.