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Michelle Seitz

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Michelle Seitz
Born (1965-07-09) July 9, 1965 (age 59)[1]
NationalityAmerican
Alma materIndiana University's Kelley School of Business
Known forFormer chair and CEO, Russell Investments

Michelle Seitz is an American business executive and investor. She is the former chairman and chief executive officer of Russell Investments. Seitz is one of few women in the world who has led a global asset management firm.[2][3] She is, according to Barron's, one of the "most influential women in U.S. finance".[4] American Banker lists her as one of the "most powerful women in finance."[2] Prior to her role at Russell Investments, she served on the board of William Blair & Company and as chief executive of William Blair Investment Management. In 2022, she left Russell Investments to launch the investment firm of MeydenVest Partners.[5]

Early life and education

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She decided to pursue a career in finance while on a high school class trip to the Chicago Board of Trade.[1] She graduated from the Kelley School of Business at Indiana University in 1987 with a B.S. in accounting. Seitz became a Chartered Financial Analyst in 1990.[1]

Career

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Seitz began her career in 1987 as a portfolio manager at NationsBank in Charlotte, North Carolina.[2] She received the firm's "rookie of the year" award in 1988 for best performance.[2] From 1992 to 1996, she was a senior portfolio manager at Concord Investment Company.[1]

William Blair & Company

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Seitz joined William Blair & Company as a senior portfolio manager in 1996 and was promoted to partner in 1999.[1][6][7] In 2001, Seitz was named CEO of William Blair Investment Management (WBIM), which she grew to become the company's largest division.[8] Serving as WBIM's CEO for 16 years, Seitz ran the institutional, mutual fund, and private wealth management businesses.[2] She also served on the executive committee and corporate board of William Blair and as the chairman and president of William Blair Funds.[1][9] To increase diversity at the firm, Seitz instituted a policy requiring at least half of all interview candidates must be either women or ethnic minorities.[7]

Russell Investments

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In September 2017, Seitz left William Blair in Chicago to join Seattle-based Russell Investments as CEO.[10] She was appointed chairman of the board the following January.[4] She hired a new chief operating officer,[11] and global chief investment officer,[12][13] and invested heavily in technology to reduce inefficiencies, with a goal of lowering costs and improving returns for clients.[2][14]

Seitz is the seventh CEO and the first woman chief executive since Russell Investments' founding in 1936.[1][15] She is one of few women leading global investment firms worldwide.[2][15][3]

In 2019 and 2020, Seitz was featured on American Banker's "Most Powerful Women in Finance" and "Most Powerful Women in Banking" lists.[16][17][18] She was named to Puget Sound Business Journal's 2019 "Power 100" list of top business leaders in the Puget Sound region.[19] Barron's named Seitz one of the "100 Most Influential Women in U.S. Finance" in 2020.[4]

MeydenVest Partners

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In September 2022, Seitz left Russell Investments to launch her own investment form, MeydenVest Partners.[5]

Other roles

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Seitz is a founding member and donor to All In Seattle, a fund supporting nonprofit organizations during the COVID-19 pandemic, and a founding co-chair of the Chicago Council's Women and Global Development Forum, which encourages "inclusive global development practices" and supports women "advancing into leadership roles".[18]

Seitz serves on the boards of the Washington Roundtable and Indiana University Kelley School of Business.[15] She has served on the board of trustees of the Financial Accounting Foundation and chaired the organization's Finance and Compensation Committee.[20]

Personal life

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Seitz relocated from Chicago, Illinois to Seattle, Washington with her family in 2018.[1] She is married and has five children.[2]

References

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  1. ^ a b c d e f g h Mooney, Attracta (December 12, 2017). "Russell's new chief says it's time to get 'personal'". Financial Times. Retrieved March 6, 2020.
  2. ^ a b c d e f g h Kline, Alan (September 22, 2019). "Most Powerful Women in Finance: No. 18, Russell Investments' Michelle Seitz". American Banker. Retrieved March 11, 2020.
  3. ^ a b Wigglesworth, Robin (November 13, 2018). "Asset managers warned over costs as pressures grow". Financial Times. Retrieved March 9, 2020.
  4. ^ a b c Fortuna, Nick (April 10, 2020). "100 Most Influential Women in U.S. Finance". Barron's. Retrieved July 7, 2020.
  5. ^ a b McElhaney, Alicia (February 8, 2023). "Russell Investments Taps BlackRock Exec for New CEO". Institutional Investor.
  6. ^ Palmer, Ann Therese (March 25, 2007). "Nearing graduation, student didn't settle for unwanted job". Chicago Tribune. Retrieved July 7, 2020.
  7. ^ a b Mooney, Attracta (May 26, 2016). "Demographic shift stunts fund industry's growth". Financial Times. Retrieved March 12, 2020.
  8. ^ Marek, Lynne (March 22, 2014). "Cranking up Blair's megaphone". Crain's Chicago Business. Retrieved July 14, 2020.
  9. ^ McElhaney, Alicia (September 5, 2017). "Russell Investments Names Michelle Seitz CEO". Institutional Investor. Retrieved March 12, 2020.
  10. ^ "CORRECTED-MOVES-Russell Investments names new CEO". Reuters. September 5, 2017. Retrieved March 12, 2020.
  11. ^ Banerjee, Arunima (July 20, 2018). "Russell Investments names Rick Smirl chief operating officer". Reuters. Retrieved July 8, 2020.
  12. ^ Butera, Chris (January 31, 2019). "Russell Exec to Steer CIO Ship Once Again". Chief Investment Officer Magazine. Retrieved July 8, 2020.
  13. ^ McElhaney, Alicia (November 1, 2018). "Russell Investments Hires New CFO Amid C-Suite Shakeup". Institutional Investor. Retrieved March 12, 2020.
  14. ^ Platt, Eric; Fontanella-Khan, James; Walker, Owen (November 18, 2019). "Asset manager Russell Investments put up for sale". Financial Times. Retrieved March 12, 2020.
  15. ^ a b c Garnick, Coral (January 3, 2020). "Investment firm's first female CEO reflects on 'rarity and responsibility' of her position". Puget Sound Business Journal. ISSN 8750-7757. Retrieved March 12, 2020.
  16. ^ "Women in Banking: The Most Powerful in 2019". American Banker. September 22, 2019. Retrieved March 12, 2020.
  17. ^ "The Most Powerful Women in Finance". American Banker. 2019. Retrieved March 12, 2020.
  18. ^ a b Laurent, William (September 28, 2020). "Most Powerful Women in Finance: Michelle Seitz, Russell Investments". American Banker. Retrieved October 12, 2020.
  19. ^ Lambert, Ryan (October 7, 2019). "The inaugural PSBJ Power 100 features leaders who define the region (Photos)". Puget Sound Business Journal. Retrieved July 20, 2020.
  20. ^ "Michelle R. Seitz Board of Trustees". Financial Accounting Foundation. Retrieved July 8, 2020.
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