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Rating:Russell's CEO Anoints a TA-Friendly Right-Hand Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, January 13, 2016

Russell's CEO Anoints a TA-Friendly Right-Hand

Reported by Neil Anderson, Managing Editor

The CEO of Russell Investments just hired a right-hand with strong ties to the firm's next owners.

Len Brennan
Russell Investments
Chairman, President, Chief Executive Officer
This afternoon Russell chief Len Brennan confirms that Vernon Barback will join the Seattle-based manager-of-managers as president next week, on January 21. Barback will report to Brennan, who previously wore both the president hat and the CEO hat.

Barback joins as TA Associates and Reverence Capital Partners are buying Russell from the London Stock Exchange for $1.15 billion. That deal, first revealed last October, is expected to close in the first half of 2016.

Barback most recently served as partner and co-founder of alternative investments shop AltB Partners. Yet he is no stranger to Russell's next owners. He previously served as president and chief operating officer at GlobeOp Financial Services from 2004 through 2012; TA invested in GlobeOp in 2003 and GlobeOp IPOed in 2007.

MFWire could not immediately reach Hans Hufschmid, managing partner of AltB, for comment on Barback's impending departure.

Brennan lauds Barback's "vast financial services industry experience and extensive operational and technology expertise." Prior to joining GlobeOp, Barback served as global head of operations and technology for Citigroup asset management and as a managing director at Bankers Trust. He is an alumnus of Cambridge.

As of September 30, 2015, Russell had more than $237 billion in AUM. 

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