Russell Investments makes strategic currency appointment

currency banknotes 410Russell Investments has hired Elise Cardon to be a portfolio manager as part of an expansion of the firm’s currency management ability. She joins Russell’s global currency management and trading team and is based in London. The firm says the expansion of its currency management business is in response to growing investor interest in strategies to mitigate unwanted currency exposures. Cardon will focus on currency trading and management strategies. She will report to Joseph Hoffman, global director for equity derivatives & foreign exchange. Prior to joining Russell Investments, Cardon spent three years at Optim Invest where she developed a start-up currency management firm. She has also held positions at JP Morgan as a currency product manager, and State Street Global Advisors with responsibility for implementing and managing currency overlay programmes and developing quantitative-based currency models. “Unintended currency exposure can swamp the returns of an international portfolio and failing to take action has the potential to be costly,” says Hoffman. Funds Europe recently reported on how currency exposures can be hedged. ©2015 funds europe

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