The high-profile chief executive of Russell Investments Michelle Seitz will step down after five years in the role.
In a release, Russell said it had started searching for a successor and that Seitz, also chair of the firm, will work with leadership and the board until a replacement is recruited.
Russell said the outgoing chief executive "is looking forward to taking some time to evaluate a wider range of opportunities that will enable her to have a positive impact on people's lives."
"It has been an honour to be the CEO of such an iconic company, leading a team of world-class professionals while serving our global clients," Seitz said in the statement.
Under her leadership, Russell Investments has significantly expanded operating margins over the past five years.
"Collectively, the Russell Investments team has achieved new records of success, transformed the company into a powerful 'One Russell Investments' global platform, and, most importantly, enhanced the value proposition to our clients," Seitz added.
At the same time, the investment house has appointed investment chief Kate El-Hillow co-president alongside Kevin Klingert.
Both joined the firm last year.
El-Hillow will continue to serve as the global chief investment officer.
The team is energised by recent investment innovations and partnerships that expand our platform and capabilities," said El-Hillow.
Klingert added: "Kate and I look forward to working closely together to build on our recent success while adhering to our core value of exceeding client expectations.
Russell Investments had assets under management of US$299.2 billion as of June 30.