Casey Family Program Forms Strategic Relationship With Russell.TACOMA, Wash.--(BUSINESS WIRE)--Nov. 22, 1999-- The Casey Family Program, a Seattle-based private operating foundation that provides long-term foster care, has hired Frank Russell Frank Russell may refer to the following people:
Casey's strategic relationship with Russell will allow the organization to focus on its core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
n. Permanence: tourists who were in awe of the permanency of the great pyramids of Egypt. Noun 1. planning programs and services for children and youth. Long-term foster care is the program's core program. "Casey elected to go to work with Russell because they saw a way to achieve a responsible, goal-oriented investment strategy while focusing on the growing demands of their service programs," said Bryan Weeks, director of Russell's Strategic Accounts Team. "They believed our resources would provide them with a superior opportunity to generate better, benchmark-beating returns at appropriate risk levels." Casey had employed Russell's investment consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" for four years prior to establishing this full-service strategic relationship. Casey wanted to access Russell's proven portfolio structuring, manager selection, and implementation skills, seeing this expertise as a cost-effective outsourcing solution. With this new relationship, Casey will employ Russell's advisory and investment management services as an integrated package. Casey will delegate to Russell the management of the program's U.S. equity, international equity, and fixed income portfolios. "The aim is to create an extension of our finance staff through Russell, allowing us to gain efficiencies and cost savings, with the expectations of higher returns, said Katherine Anderson, chief financial officer at the Casey Family Program. "Our long-term focus is on improving family welfare, and as our funds have grown we needed to find a way to ensure professional and strategic management of assets on an ongoing basis," said Richard D. Ford, president of the program's Board of Trustees. "The research and management capabilities, combined with the long-range performance benefits of Russell funds, led us to broaden our relationship with Frank Russell Company. This allows our board to focus on the primary programs of the agency while Russell takes direct responsibility for selecting and managing the managers in our investment portfolio." The Casey Family Program is a Seattle-headquartered private operating foundation, established by Jim Casey, founder of United Parcel Service United Parcel Service, Inc. (NYSE: UPS), commonly referred to as UPS, is the world's largest package delivery company, delivering more than 15 million packages[1] a day to 6.1 million customers in over 200 countries and territories around the world. , in 1966. The foundation provides an array of permanency planning services for children and youth, with long-term foster care as its core. Casey services include adoption, kinship kinship, relationship by blood (consanguinity) or marriage (affinity) between persons; also, in anthropology and sociology, a system of rules, based on such relationships, governing descent, inheritance, marriage, extramarital sexual relations, and sometimes care, guardianship and family reunification Family reunification is a recognized reason for immigration in many countries. The presence of one or more family members in a certain country, therefore, enables the rest of the family to immigrate to that country as well. . In addition, through national and local partnerships, the program aims to positively impact the lives of increasing numbers of children and youth. The program has 28 offices in 14 states. Frank Russell Company, one of the world's leading investment management and advisory firms, provides investment advice, analytical tools and funds to institutional and individual investors in more than 30 countries. Russell's investment management business employs a manager-of-manager approach and has more than $50 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . The company has retainer A contract between attorney and client specifying the nature of the services to be rendered and the cost of the services. Retainer also denotes the fee that the client pays when employing an attorney to act on her behalf. consulting relationships with clients representing more than US$1 trillion worldwide. Frank Russell Company became a subsidiary of The Northwestern Mutual Life Insurance Company in January, 1999. Founded in 1936, Russell is headquartered in Tacoma, Wash., and has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Toronto, London, Singapore, Paris, Sydney, Auckland and Tokyo. Frank Russell Company, a Washington, USA corporation, operates through subsidiaries worldwide. |
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