September 5, 2017 / 4:00 PM / in 10 months

CORRECTED-MOVES-Russell Investments names new CEO

(Corrects second paragraph to state the former CEO’s new role is as chairman of Russell Investments, not of the board of directors)

NEW YORK, Sept 5 (Reuters) - Seattle-based asset manager Russell Investments named Michelle Seitz as the firm’s new chief executive officer on Monday.

Seitz replaces Len Brennan, who will stay on as chairman of the firm until the end of the year. On Jan. 1, 2018, Seitz will become chairman of the board and Brennan will become a strategic adviser to the firm.

Seitz was previously the head of William Blair Investment Management.

Russell Investments was previously owned by the London Stock Exchange Group Plc. The private equity firm TA Associates acquired a majority stake in Russell’s asset management business in June 2016, with Reverence Capital Partners as a minority partner.

As of June 30, 2017, Russell Investments had $277 billion in assets under management. (Reporting by Elizabeth Dilts; Editing by Dan Grebler)

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