Russell Investment Group (Russell) has hired Peter Worcester and Tony Miller to its institutional team in Melbourne.

Worcester, who previously ran his own investment consultancy, joins the firm as a senior consultant in the alternative assets team.

Formerly, he worked at Commonwealth Investment Management, Mercer and Axa.

He will report to Russell's director of alternative strategies Andrew Goddard.

Miller joins Russell's actuarial and benefits team from consultant Deloitte.

Previously he worked at Butler Walker Actuaries, Mercer Human Resource Consulting and the National Mutual Life Association.

He will report to the director of actuarial and benefits consulting Steve Schubert.

Miller will advise on defined benefit funding, liability management and accounting disclosures for employers. 

Institutional services managing director Stephen Roberts said Russell was experiencing growing demand for superannuation fund advisory services.

"Russell is highly focused on helping all our clients secure their members' retirement through tailored, superannuation solutions," he said.

"For many of our larger clients this means providing access to advice from experienced investment consultants and actuaries to allow those funds to build leading edge investment portfolios and to effectively manage their superannuation liabilities."

Russell has $250 billion in assets under management and offices in 40 countries.