David Rainville is the new director of operations for Russell Investment Group's mutual fund business. The Tacoma, Washington-based firm also tapped Michael Pensabene as director of business technology services. Both executives report to Melodie Zakaluk, managing director, operations, of Russell's US Individual Investor Services.

Zakaluk said the appointments came as the growth in Russell's fund business increased its need for strategic planning, operations, program management, and asset and data management expertise.

Rainville joins the firm from MFS Investment Management, where he led multiple transfer agent teams. He will oversee Russell's transfer agent for the firm's family of multi-manager mutual funds and its LifePoints Funds as well as operations for the Russell Managed Account Strategies.

Pensabene comes to Russell from Citigroup, where he spent 20 years and directed technology teams supporting the bank's mutual fund and managed account businesses. At Russell, he will be responsible for strategic planning, development and implementation of information management architecture, and the delivery and support of information and business intelligence through sales and business tools.  

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