Deals & People April 21, 2010

Russell Investments Names Head of Americas Institutional Business

Russell Investments has announced the appointment of Penny Zuckerwise as CEO Americas Institutional.
Reported by

Zuckerwise will join Russell on May 3 and will report to Russell’s president and CEO Andrew Doman. She will also become a member of the firm’s Executive Committee.  

Based in New York, Zuckerwise has more than 25 years of industry experience, as a business leader, consultant, and investment adviser, according to the announcement. Prior to joining Russell, she was president and CEO of Utendahl Capital Management, L.P., a minority- and woman-owned asset management firm.  

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Previously, Zuckerwise also served as the principal and founder of Wiserock LLC and president and chief operating officer of Chancellor LGT Capital Management (now Invesco).   

Russell also announced that as part of its expansion of client services in both the U.S. and Canada, nearly 30 new hires will join the company this year in the areas of consulting, investment product development, defined contribution, and risk management.  

Russell’s Americas Institutional business serves institutional investors across North America, including corporate and public defined benefit plans, defined contribution plans, multi-employer plans, and endowments and foundations.

Deals & People April 21, 2010

New York Life Investments Announces Stable Value Unit

New York Life Investments has announced the launch of Stable Value Investments (SVI), a new unit that will create and distribute proprietary fixed-income money management solutions backed by book value guarantees from the New York Life Insurance Company.
Reported by

Leading this new unit as director and head of Stable Value Investments is Aruna Hobbs, who joined New York Life in November 2009 from AEGON Insurance. As director and head of Pensions and Savings at AEGON, she was elected to the Stable Value Board of Directors for two terms and was a member of the LIMRA Marketing Officers Round Table, according to an announcement.

Hobbs also served as a member of the Stable Value Investment Association (SVIA) Executive Committee.  

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