Michael Russell has been recruited from Nomura onto the £384 million Hermes US Small and Mid-cap (Smid) Equity fund.
He replaces Robert Anstey, who quit Hermes for Marathon Asset Management in October.
Prior to joining Hermes, Russell was senior portfolio manager on the global developed markets equity funds at Nomura Asset Management. He had worked at Nomura for eight years, including five years as portfolio manager on the group’s US equity funds from 2005.
Earlier in his career Russell managed US equity funds at Merrill Lynch Investment Managers and Mercury Asset Management.
Russell will now be deputy manager on the Hermes US Smid Equity fund, reporting to lead manager Mark Sherlock.
‘Michael shares the Hermes US Small and Mid Cap Equities team approach of seeking long-term value through detailed fundamental analysis,’ said Sherlock (pictured). ‘We feel his extensive experience of global and US equity portfolio management will add significant value to the fund.’
Since inception in September 2012, Hermes US Smid Equity has returned 24% compared with 26% from its Russell 2500 benchmark.