State Street's Distributor Aids Institutional Drive

fund administrator, Russell Fund Distributors, in a drive to boost institutional sales in the Midwest. Russell has hired Mitchell A. Zielezinski for a Chicago-based sales management position. He was assistant vice president for institutional sales at Concord Financial Group before joining Russell, a unit of Frank Russell Co., Tacoma, Wash. A State Street executive said Mr. Zielezinski will concentrate on sales of cash management products to banks, insurance companies, and corporate treasurers throughout the Midwest. Cash management accounts constitute almost three-quarters of the more than $7 billion of institutional assets in the banking company's Seven Seas Funds, an executive said.