Russ Fradin joined Hewitt Associates in September 2006 as chairman of the board and chief executive officer, bringing a unique blend of outsourcing, operations, and strategic consulting experience. His team has re-centered Hewitt around its core businesses of Consulting and Benefits Outsourcing, accelerating their growth by entering new markets, expanding globally, and adding complementary services. During his early tenure, the team has stabilized the HR Business Process Outsourcing portfolio, improved growth in the Benefits Outsourcing business, completed the acquisition of four related businesses, divested three non-core businesses, and streamlined the company's cost structure. Both employee engagement and retention have improved during a time of significant transition.
Prior to joining Hewitt, Russ served as president and CEO of The BISYS Group, a financial services administration firm. Under his leadership, the business returned to a 6 percent growth rate and margins improved by 10 percent over a two-year period through a combination of offshoring, technology upgrades, and other cost reductions.
Russ gained his operations experience over seven years with outsourcing giant ADP. As president of its Global Employer Services group, he oversaw 28,000 employees and more than 400,000 clients globally. Russ orchestrated a growth program that increased revenues 66 percent, from $2.7 billion to $4.5 billion, and improved the group's profit margin by more than 500 basis points. Additionally, he succeeded in diversifying the group, increasing non-payroll revenue from 11 percent to 35 percent, and improving client satisfaction by more than 20 percent in every business.
Russ developed his strategic business acumen during 18 years at McKinsey & Company, including multi-year assignments at two of McKinsey's largest clients. Russ founded and grew the New Jersey office into one of the firm's most profitable.
Russ serves on the Board of Directors for both Gartner and The Executives' Club of Chicago. He is also a member of The Illinois Business Roundtable and Civic Committee of the The Commercial Club of Chicago.
He holds a master's degree in business administration from Harvard Business School and a bachelor of science degree in economics with a concentration in finance from the Wharton School of the University of Pennsylvania.
