Russell Investments has appointed Zach Buchwald as the firm's new CEO, replacing Michelle Seitz, who left the firm in October last year.
Buchwald will take on the role from 1 May 2023.
Seitz, who led the firm from 2017, has since launched her own investment firm named MeydenVest Partners.
Based in Seattle, Buchwald will be the firm's eighth CEO in 87 years and joined from BlackRock as the head of its institutional business in North America.
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Prior to that, he led BlackRock's financial institutional group, while also sitting on its global operating committee, US/Canada executive committee and sponsoring its LGBTQ+ employee network.
He also worked as a managing director at Morgan Stanley in the firm's fixed income division.
Buchwald will also chair the firm's board of directors.
Russell currently manages $276.5bn in assets.
"I am deeply honoured to join Russell Investments," said Buchwald.
"I have long admired Russell Investments' unique legacy as a pioneer in investment consulting, OCIO, portfolio implementation, and much more.
"Today Russell is differentiated by its commitment to a total portfolio approach, which is critical in our inter-connected investment universe.
"I am excited to work with this innovative team to help clients achieve their investment goals with the best possible toolkit."
Kate El-Hillow, president and chief investment officer at Russell Investments, said the appointment was "great news" for Russell Investments' clients.
She said: "I look forward to working with Zach, especially benefiting from his stellar record of innovating client solutions to deliver on their desired investment outcomes."
El-Hillow added: "Zach is expertly prepared to further the firm's innovation success - from cutting-edge asset allocation and unparalleled money manager insights to some of the earliest forays into factor exposures and a competitively recognised implementation capability - to address the exacting demands of investors globally."
