Russell expands in Japan

Russell Investment Services' senior managers in Tokyo are dedicating more time to the quickly growing multi-manager strategy offered by the US firm. Masanori Tsuno, president and chief representative in Japan, is dedicating more of his personal time to the multi-manager business, necessitating extra hires to cover the firm's traditional investment consulting business.

The firm has therefore hired Jun Araki as a consultant from Resona Trust, where he had run its investment planning division, part of the trust fund management division. Araki was responsible for promoting the firm's investment process and products to consultants and institutional clients, and overseeing risk management. He starts at Russell on July 1.

Resona Trust manages Y12 trillion ($111 billion) for institutions, making it the fourth largest institutional manager in Japan.

Araki has worked at Resona for five years. Prior to that he worked at Yasuda Trust (since incorporated into Mizuho Trust). His duties at Resona will be assumed by Takashi Sumiyoshi and Minoru Matsubara.