This week, we see moves from two former BlackRock executives and a new senior vice president at Lincoln Financial Group.
Former BlackRock Exec Moves to Russell Investments
Russell Investments has announced that Zach Buchwald will serve as chief executive officer and as chairman of the firm’s board of directors.
Based in the firm’s global headquarters in Seattle, Buchwald will take the helm effective May 1 as Russell Investments’ eighth CEO in 87 years. He will succeed Michelle Seitz, who departed the firm late last year.As CEO, Buchwald will drive Russell Investments’ growth and results.
“We believe Zach is the ideal leader to further Russell Investments’ legacy of innovation in asset management,” said Todd R. Crockett, a managing director at TA, which, along with Reverence Capital Partners, acquired Russell Investments in 2016. “We are excited to welcome Zach and fully expect his leadership, along with President and Chief Investment Officer Kate El-Hillow and others on the leadership team, will help propel the firm through the next phase of growth, with a focus on delivering a superior client experience.”
“I am deeply honored to join Russell Investments,” said Buchwald. “I’ve long admired Russell Investments’ unique legacy as a pioneer in investment consulting, OCIO, portfolio implementation, and much more. Today’s Russell is differentiated by its commitment to a total portfolio approach, which is critical in our inter-connected investment universe. I am excited to work with this innovative team to help clients achieve their investment goals with the best possible toolkit.”
Buchwald joins Russell Investments from BlackRock, where as the head of its institutional business in North America he was responsible for delivering BlackRock’s investment capabilities to the firm’s institutional clients. Prior to this role, he led BlackRock’s Financial Institutions Group, and earlier he helped establish its Retirement Solutions and Financial Markets Advisory platforms.
At BlackRock, he also served on the firm’s Global Operating Committee, the US/Canada Executive Committee, and as sponsor of its LGBT employee network.
Prior to joining BlackRock in 2008, Buchwald served as a managing director at Morgan Stanley, where he held positions of increasing responsibility within the firm’s fixed income division, with leadership responsibility for the bank’s collateralized loan obligation (CLO) platform by the end of his tenure.
NTAM Names New President
Daniel Gamba will serve as Northern Trust’s new President of Asset Management (NTAM), effective April 3. He will join Northern Trust’s Management Group and report to Chief Executive Officer Michael O’Grady.
Gamba joins Northern Trust from BlackRock, Inc., where he spent 22 years and served as co-head of Fundamental Equities and as a member of BlackRock’s Global Operating, Portfolio Management Group Executive and Human Capital committees. Gamba is also the founder and co-chair of Somos Latinx & Allies Employee Network at BlackRock.
“Daniel has a unique set of experiences well suited for the continued growth of Northern Trust Asset Management, with a track record of delivering strong results,” O’Grady said. “I am confident that under Daniel’s leadership, working in close collaboration with NTAM’s executive team and his partners on Northern Trust’s Management Group, our business will continue to grow and deliver best-in-class investment solutions and services to our clients.”
Gamba is the past chair of the Board of Governors for the CFA Institute, the 190,000-global member association that serves investment management professionals. He served as a board director for the Council of Urban Professionals whose mission is to connect, empower and mobilize the next generation of diverse business and civic leaders. He earned a bachelor’s degree in industrial engineering from Universidad Catolica del Peru and a master’s degree in finance and economics from Northwestern University’s Kellogg School of Management, where he served on the board of its alumni association for four years.
Lincoln Financial Group Announces SVP
Lincoln Financial Group has named Vince Garzarella as senior vice president, Retirement Plan Services Operations.
In this role, Garzarella will be responsible for leading strategy development and execution for the Retirement Plan Services Operations function, which includes front-line customer service and plan administration. He will also serve as a champion for business transformation and change management initiatives, with a focus on developing, building and delivering new administrative capabilities that will continue to meet the evolving needs of plan sponsors and participants. Garzarella will report to Ralph Ferraro, president of Retirement Plan Services, and will join the company’s Corporate Leadership Group.
“At Lincoln, our people set us apart. Our Operations team is the heart of our organization, working with participants along every step of their retirement journey,” said Ralph Ferraro, senior vice president, president of Retirement Plan Services, Lincoln Financial Group. “Vince has proven himself to be a strong leader on our team already, and I look forward to seeing him step into his new role leading the Operations team as we build on our industry-leading service and continuously enhance the way we meet the needs our customers.”
Garzarella joined Lincoln in 2017 as vice president, Retirement Plan Services, head of tax-exempt markets, and most recently held the role of vice president, Retirement Plan Services, head of mid-large markets. Prior to Lincoln, he held senior leadership positions within both operations and administration at Vanguard during a 19-year tenure. Garzarella earned a bachelor’s in sociology from Villanova University and a master’s degree from Saint Joseph’s University, Haub School of Business, and is FINRA series 6 registered.
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