A never ending pursuit for Best Execution

Russell Investments is one of the oldest and most well-known buy-side firms in the world. Established in 1936, the firm has some $266 billion in assets under management. That creates massive currency trading needs. e-Forex speaks with the man in charge of handling those needs in the EMEA region, Klaus Paesler. He’s ready to use any method at his disposal to provide bespoke services for clients, whether that involves voice, netting and matching or algo-based trading.

First Published: e-Forex Magazine 71 / Voice from the buyside / March, 2016

Klaus, could you broadly talk about your role and what you aim to achieve in it? KP: I’m head of currency and overlay strategy for the EMEA region. What that really involves is educating both prospects and clients on the implementation services that Russell provides, helping our clients with currency, derivative and other implementation strategies that we could do from them. Everything that we do at Russell is bespoke to our clients’ needs.  On the foreign exchange side, Russell provides currency hedging overlays, where we do bespoke hedges. We also have an index-based overlay strategy called Conscious Currency that we implement for a lot of clients. But also we do a lot of individual FX execution as part of our services.  Much of our flows are from our own fund managers and for our transition management and derivative overlays. Then we also have directed execution from our third-party clients, either managers themselves who outsource all their FX execution to us, or pension...continued

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