Russell Taps McKinsey Exec as CEO

Most recently Doman was a founding director of McKinsey & Company Inc.’s UK-based European Asset Management practice. In his role at McKinsey & Company, Doman’s client assignments spanned a range of disciplines, including organizational and market development, strategy, globalization, risk management, product design and development, and operational issues.

Doman succeeds John Schlifske, who was named president and CEO in June 2008 (see Ueland Pushed Out at Russell in Executive Shakeup ). According to an announcement about the appointment, Schlifske will continue to serve as the company’s president in the near term “to ensure a smooth and orderly business transition”.

The company notes that Schlifske will return to Russell’s parent company, Northwestern Mutual, as planned. Doman will also join Russell’s board of directors.

“In selecting Andrew as Russell’s CEO, we were overwhelmingly impressed by his deep knowledge of the asset management industry and the combination of his strategic, operational and managerial experience,” said Schlifske. “He is a renowned business builder and the ideal candidate to lead this great company amidst the challenges of today’s business environment, and as it embarks upon its next chapter of success.”

“Russell is an extraordinary company at an extraordinary point in history,” said Doman. “There are challenges, clearly, for all financial services providers. But not every company has the heritage, brand recognition and worldwide reputation for investment excellence that Russell has built and earned over seven decades. I believe Russell is well positioned to navigate the financial crisis, and come out of it stronger. It is a truly global company and it has a culture of integrity that is distinct and valuable. I am honored and excited to be joining Russell and look forward to working closely with our clients and associates.”