Russell Investments Reviews

Pros

Working with talented employees, many of whom left top funds and banks for a better work/life balance. Working at one of the largest consultancies in the world helps as well.

Cons

One could argue that the work and leisure balance is reflected on the light pay. especially for those employees right out of college.

Advice to Senior Management

Leadership changed during the summer in a very positive fashion. Mr. Len Brennan wasa longtime Russell employee and knows how this company should be run.

Pros

Work/life balance. Very laid back organisation.

Cons

Company is in transition and is seeking to define its role in investment management.

Advice to Senior Management

Right size the company faster

Pros

Decent benefits, relatively flexible working hours are the top two things that come to mind.
Having been around the various offices globally, it's not a lie to say the company has some really nice people (though this varies a bit from office to office depending on the local culture). Everyone's easy to get along and happy to lend a helping hand. Work provides great exposure and learning environment as long as you're independent, self motivated and thrive on DIY. People are smart and extremely hard-working, going beyond their call-of-duty to fulfill client needs.

Cons

Poor communication from management
No clear roadmap of how vision and strategy will exactly translate to an implementation plan, though this could improve in 2012
The unwinding of certain past initiatives vs. others creates more questions
The work environment sometimes can be too independent in that there's lots of expectation but little support from management - molds a tougher personality which isn't all bad
Technology especially analytical tools need a massive upgrade - a major part of the reason that bogs down work processes and delay deliverables!

Advice to Senior Management

Pay real attention to issues raised by employees rather than just lip service
Invest in technology - it's what a long-term, patient investor would do today

Pros

Benefits; it's in Seattle; young, energetic co-workers.

Cons

Glum environment in Risk Management; passive aggressiveness and major lack of candor/directness in communication among both management (especially) and associates (to a lesser degree); lack of respect for employees shown by keeping them in the dark about company direction & not mentioning layoffs of co-workers openly (letting employees find out their co-workers were let go weeks later, instead.)

Advice to Senior Management

Do a better job of emphasizing specific goals, and tying those back to actions performed by employees. Focus on prioritizing 'big win' items for the team to tackle, rather than simply aiming for 'everything', and ending up getting bogged down pursuing too many things simultaneously.

Solicit (and actually listen to) advice from employees on strategy. Let competent employees have more influence on how things are done, and how priorities are decided. Stop nit-picking the small things, and focus on accomplishing big things 90% of the way there for, say, 20% of the effort.

Pros

Good pay while in college, great learning experience

Cons

Poor product design, fund of fund management is too expensive to actually benefit clients significantly more than other asset manager strategies.

Pros

Great benefits, sabbatical, flexibilty in work schedule; work in a friendly and enthusiastic group

Cons

Limited opportunities for career progression.

Advice to Senior Management

Better plan for career progression

Pros

The staff are extremely hard-working, intelligent, and dedicated. Everyone at line staff level performs their tasks diligently.

Excellent benefits and competitive pay.

Cons

Management is very poor at leadership and decision-making. Direction is seldom clear and can turn on a dime, leading to a tremendous amount of confusion and rework.

Decision making is very slow. It took over a year to select an IT infrastructure outsource provider from only two candidates when one was head and shoulders above the other.

Cost management is non-existent. The bulk of the technology staff is in Seattle. The head of technology is in London. The Tech Chief of Staff - an utterly useless position - is in NY. The head of infrastructure lives in SF, flies to Seattle every week, and lives at the Four Seasons. These three people rack up enormously high travel costs and then spend more time complaining about travel costs instead of concentrating on the much higher and uncontrolled technology costs.

Finance only makes things worse. I am a techie and I am expected to analyze loads of cost data and somehow manage costs. The Finance model has Financial Analysts making sure costs go in the right buckets and passing out standardized reports with no usable information - that's it, no analysis or assistance given to those of us who really need it.

We recently let go a contracted FA who was dedicated to our infrastructure outsource project. The guy was amazing. He saved millions with analysis that the IT staff could never do. He would have saved more once the invoices start arriving and require analysis of resource usage - "save thousands and lose millions" is the credo here.

The Finance staff left behind is non-responsive and devoid of any analysis ability.

Way to go. I didn't really need my bonus, or profit-sharing, or a pay raise.

Advice to Senior Management

Cut several layers of management. Adopt a 21st century cost management model. Find financial analysts who can actually analyze something and be proactive.

Pros

Salary and benefits were competitive

Cons

Lehman bankrupcy caused an $800mm loss in their MnyMkt fund, which they had to cover with a loan from NML (parent). There has been severe cost cutting to repay the loan.
Management is using the McKinsey "rank and yank" HR process to get rid of higher paid employees.
Growth of AUM is falling net of market ... they are trying "me too" strategies with ETFs.

Advice to Senior Management

Stop the cost cutting and define a real growth strategy

Pros

They have great benefits and a very good work environment

Cons

its a big company, sometimes its hard to get promoted

Advice to Senior Management

Keep hiring young employees and interns!

Pros

great benefits: sabbatical, professional development
most employees take pride in their work
work/life balance
opportunities to work in other countries

Cons

lack of communication about changes
long commute for most employees
executive committee made up of all white males (when I left); lack of diversity
too many meetings

Advice to Senior Management

Employees, not senior management, make the company . If you treat your employees poorly, you will lose talent. Yes, there may always be another willing body to fill a position, but longevity in a business such as Russell's goes a long with clients.