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Executive Moves

Russell Hires Polisson To Head Global ETFs

Russell Investments has appointed James Polisson as managing director of Russell's new global exchange-traded fund business and Andrew Arenberg as managing director of global ETF distribution. Both were instrumental in building Barclays Global Investors' iShares business.

"Russell's heritage of innovation and thought leadership across the spectrum of investment services uniquely positions us to be a leader in the next evolution of the ETF industry," said Russell's CEO and President Andrew Doman. "I'm very pleased to welcome both of these experienced ETF innovators to Russell in order to marshal 'next generation' thinking on a broad range of ETF-related opportunities."

Polisson was chief marketing officer at BGI, which he joined in 1998 and where he also served as head of global operations risk management.

Arenberg was a managing director in BGI's global e-business, and he served as managing director of channel marketing for BGI for six years. He was instrumental in growing and managing U.S. iShares marketing activities in Asia Pacific and Latin America. Prior to joining BGI, he served on the corporate strategy team in the institutional business at Charles Schwab.

Retirement Income Assn. Announces New Directors

The Retirement Income Industry Association recently selected two new board members, said RIIA Chairman and Executive Director Francois Gadenne.

The two are Ron Mastrogiovanni, president and chief executive officer of HealthView Services, and Bruce Wolfe, managing director of Allianz Global Investors.

"We are pleased and excited to welcome Ron and Bruce to our board of directors," Gadenne said. "Their experience, leadership and innovation in the financial services industry will benefit RIIA as we pursue our mission to bring the entire retirement income industry together to develop the products, processes and advisory services Americans need to create a secure retirement."

Additionally, three new special advisors to the board have committed their time and expertise. They are: Mitch Anthony, president of Advisor Insights; Dr. Somnath Basu, professor of finance at California Lutheran University and the director of its California Institute of Finance; and Don Trone, chief executive officer of Strategic Ethos.

Founded in 2006, RIIA's mission is to bring the retirement income industry together with a view across silos.

Goldman to Part Ways With Fidelity Institutional

Fidelity Investments confirmed that Charles Goldman, its head of institutional platforms, is leaving the Boston fund company. Goldman will step down at the end of March "to pursue opportunities outside the organization," said Vin Loporchio, a Fidelity spokesman. It has not named a replacement.

Instead, Goldman's former team of three division presidents will run the institutional platforms. They are: Sanjiv Mirchandani, president of National Financial, Fidelity's clearing arm; Mike Durbin, president of Institutional Wealth Services, which supports the registered investment advisory market; and Ed Orazem, president of Fidelity Family Office Services.

All three will report to Gerard McGraw, the president of Fidelity Institutional. McGraw hired Goldman in November 2008.

During his tenure, the Institutional Wealth Services division, in partnership with National Financial, helped a record 191 breakaway brokers go independent in 2009, a 63% increase from 117 advisors who made the move in 2008. Institutional Wealth Services ended last year with $392.7 billion in assets, an increase of 35% over 2008. National Financial ended the year with $550 billion in assets, up $44 billion from the prior year.

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