Toronto-based Russell Investments Canada has made a major investment in its institutional business, with the appointment of Joseph Gelly as managing director, Canada institutional.
Gelly will be leading efforts to bring Russell’s multi-asset fiduciary solutions (e.g. investment outsourcing), implementation services and consulting to the Canadian institutional marketplace.
Gelly, who will lead the veteran institutional team in Toronto, whose senior members include Bruce Curwood, director, investment strategy, and Tom Lappalainen, senior consultant, joins from Russell’s Americas Institutional business where he most recently served as managing director, fiduciary solutions. He has more than 25 years of industry experience, with an extensive background providing customized investment solutions to corporate, multi-employer, public sector and non-profit clients.
“We see the trend of fiduciary solutions, which has taken hold in the U.S., starting to emerge in Canada. Many Canadian pensions are facing very similar challenges to their U.S. and European counterparts,” says Gelly. “Few organizations have the time, resources and governance structure required for daily portfolio oversight, optimization at the investment portfolio level to improve risk-return trade-offs and execution of real-time risk management and opportunistic portfolio allocations.”
Russell has worked with pensions, non-profits and healthcare systems as a fiduciary solutions provider for more than 30 years.