Russell Investments announced that it has named Andrew Doman as the company’s new chief executive officer.

Doman, whose appointment takes effect Feb. 2, succeeds John Schlifske, who was named president and CEO in June 2008. Schlifske will continue to serve as the company’s president in the near term to ensure a smooth and orderly business transition. Subsequently, Schlifske will return to Russell’s parent company, Northwestern Mutual, as planned. Doman will also join Russell’s board of directors.

Doman was most recently a founding director of McKinsey & Company Inc.’s UK-based European asset management practice. In his role at McKinsey, Doman’s assignments spanned a range of disciplines, including organizational and market development, strategy, globalization, risk management, product design and development, and operational issues.

“In selecting Andrew as Russell’s CEO, we were overwhelmingly impressed by his deep knowledge of the asset management industry and the combination of his strategic, operational and managerial experience,” said Schlifske. “He is a renowned business builder and the ideal candidate to lead this great company amidst the challenges of today’s business environment.”

Doman said that he believes Russell is well positioned to navigate the financial crisis, and come out of it stronger.