Leggate, who has been appointed to the newly created role of managing director, Middle East, joins the company from MSCI where he held the position of executive director and head of EMEA asset owners & investment consulting. In his new role he will report to Russell Investment’s president of EMEA, Pascal Duval and will be based in the company’s Dubai office.
Russell Investments said Leggate’s arrival in the region will signal the start of “an additional expansion in the number of people on the ground to support the Russell businesses”. It added that one of his first responsibilities will be to begin building a team of industry professionals.
The company has had operations in the Middle East for over 30 years, beginning with a consulting contract in the Kingdom of Saudi Arabia in 1975. Since then it has established regional and local partnerships with organisations such as Rayan Asset Management in the UAE, Shariah-compliant financial solutions firm Jadwa Investment in Saudi Arabia and Tadawul, the Saudi Stock Exchange.
At the end of March, Russell Investments had about $161bn (€112bn, £98bn) in assets under management.