Russell Investments has appointed Andrew Scherer as director of defined contribution, intermediary distribution for the firm’s U.S. advisor-sold business, which sells mutual funds and other multi-asset products to DC recordkeeping platforms, retirement plan sponsors and retirement plan advisors.
Scherer joined Russell on March 18 and is based in Russell’s Chicago office. He reports to Michael Winnick, managing director of U.S. sales and partnerships for Russell’s advisor-sold business.
Prior to joining Russell, Scherer was a national sales director at Invesco, and also served as a managing director at Morgan Stanley and Van Kampen. Scherer launched and expanded Van Kampen’s DCIO business and later took on leadership of Morgan Stanley’s DC, variable annuity, managed accounts, RIA and Latin American businesses, according to the firm.
Globally, Russell’s DC business has more than $US117 billion in assets under advisement as of December 31, 2012 and more than US$24 billion in assets under management.