David Russell will step down from his role as head of responsible investment at the USS Investment Management at the end of June after more than two decades at the UK pension fund manager, affiliate title Responsible Investor has revealed.
Russell joined USS Investment Management, the principal investment manager and adviser to the Universities Superannuation Scheme, in 2001. He was co-head of responsible investment alongside Daniel Summerfield until 2018, when he became sole head.
During his time at the £90.8 billion ($113 billion; Є103 billion) fund, Russell has become an influential voice in the ESG space.
A spokesperson for USS told RI: “David has been a prime mover in the creation and development of the responsible investment capability at USS, has been the public face of RI at USS for many years and has been instrumental in the creation of several important industry initiatives.”
USS is an influential private markets investor. Last year the pension revealed a £2.5 billion ($3.4 billion; €3 billion) allocation to invest in decarbonisation technologies and services in private markets over the coming five years.
The spokesperson would not be drawn on where Russell is going next. His replacement at USS will be announced in due course, the person said.
Russell is a former board member of the Principles for Responsible Investment (PRI) and is currently a member of the initiative’s asset owner advisory committee.
He is an adviser to the Board of the Institutional Investors Group on Climate Change (IIGCC), which USS set up in 2001, and on the board of the International Centre for Pensions Management, the UK Investment Association’s sustainability and RI committee, and the FTSE Russell sustainable investment technical and sustainable investment strategic advisory committees.
He is also a founding board member of the Transition Pathway Initiative.
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