Russell Investments, the global asset management firm, has announced a reshuffling in its global and Australian senior executive ranks. 

Jeff Hussey has been named global chief investment officer after Pete Gunning, the CIO since 2008, moves back to Australia to lead the Asia-Pacific operations. Gunning succeeds Alan Schoenheimer, who transitions from being the Asia-Pacific chief executive to a non-executive advisory role. Gerard Fitzpatrick, currently the senior fixed income portfolio manager, will take over from Hussey as CIO for global fixed income. All these will take effect 1 October 2013.

As global CIO, Hussey will direct the firm's investment management, implementation and research activities worldwide. Meanwhile, Gunning returns to Sydney to manage the Asia-Pacific operations and will be responsible for the business activities in Japan, Korea, China, Taiwan, Singapore, Australia and New Zealand. Gunning continues to function as a member of the executive committee and will report to Leo Brennan, CEO. 

This is not the first time the company has announced a restructuring this year. In April, the firm shifted its business focus on three core client-facing units: institutional, private client services and investment. Then-CEO Schoenheimer said that cementing Russell's role as an asset management firm means removing the "barriers" between its advice and asset management teams. 

Russell Investments has some $237 billion in assets under management as at 30 June 2013.