Federated Hermes has expanded its real estate team with the appointment of Mark Russell to the newly created role of head of fund management (real estate).
The investment firm said that Russell (pictured) will be responsible for driving the strategy and performance delivery of the real estate business and its investments within the Federated Hermes Private Markets platform.
His role, which comes into effect on 19 February, will be based in London. He will report to Chris Taylor, head of real estate.
“I am excited to be joining the industry-leading real estate team at Federated Hermes as it seeks to build upon an enviable track record gained over four decades and through multiple market cycles,” said Russell. “The business was a pioneer in what has come to be known as responsible investment, and an ongoing commitment to responsibility runs deep. This chimes loudly with my own priorities and will be critical in supporting the delivery of long-term sustainable outcomes for investors whilst simultaneously facilitating direct and positive influence on societal and environmental challenges.”
Russell has over 25 years of experience across private practice advisory, property company and institutional real estate fund management.
He joins Federated Hermes from Orchard Street IM where he was a partner, managing large core/core plus funds and helping to launch a strategy for impact investing in real estate.
Prior to that, he held roles at Legal & General Investment Management, Prestbury Investment Holdings and Jones Lang Wootton.
Federated Hermes’ real estate business has $8.3bn (£6.6bn) of commercial real estate assets under management.
“I am delighted Mark will be joining the team at Federated Hermes; his extensive experience complements the capabilities of our existing established team, and will enhance the ongoing delivery of our client focussed strategy,” said Taylor. “Mark is closely aligned with our team’s commitment to delivering future-focused real estate solutions to meet the need of clients, in current and future market conditions. We look forward to working with Mark as we continue to deliver resilient, relevant and high-quality real estate investments for our institutional clients.”