The London Stock Exchange Group subsidiary has boosted its multi-asset expertise in Northern Europe.

Russell Investments has hired Fons Lute as client portfolio manager.

Lute has over 30 years of industry experience, having most recently worked at BlackRock as a managing director within the firm's multi asset team in the UK. He has also held senior roles in the Netherlands, including positions at PGGM Investments, Fortis Investments and Blue Sky Group, where he was chief investment officer and head of investment strategy research.

In the newly-created role, Lute will advise clients across Northern Europe on their multi-asset investment strategies. He will be based in London initially and in due course in Amsterdam, reporting to Rob Hall, the firm's head of client portfolio management for Europe, the Middle East and Africa.

“Fons’ appointment reflects the demand we are seeing for these services across Northern [Europe] at present,” said Hall.

As of the end of 2015, Russell Investments, which is headquartered in Seattle, Washington, had more than $241 billion in assets under management. The firm works with institutional clients, financial advisors and individual investors worldwide.