Russell Investments, which is expected to go up for sale, has recently filled three senior posts.

In May, Russell tapped David Tenney to be managing director of business growth and development, a spokeswoman says. Tenney is the former co-head of America’s research at Goldman Sachs & Co. He was COO of global investment research at Goldman before he retired in December 2007, an official says.

Last month Russell announced that John McMurray had been hired as chief risk officer to lead the global risk management department within Russell’s office of the Chief Legal Officer. McMurray was previously chief risk officer for the Federal Home Loan Bank of Seattle. Russell also hired Erik Strom as director of government & community relations. Strom was in a similar role at the Federal Home Loan Bank of Seattle.

While many people may still be talking about the BK sale, there is another deal that has the potential to be a whopper. Northwestern Mutual Life Insurance is thinking about selling Russell Investments.

Before you laugh, a Russell sale would be a big deal in the asset management space. Anyone who has invested in the stock market knows Russell, which is best known as the index provider behind many biggest mutual funds.

Northwestern Mutual has decided that Russell Investments isn’t a core asset anymore and is seriously considering putting the $140 billion asset manager up for sale, according to Investment News. Northwestern Mutual bought Russell in 1998 in a deal that was estimated at $1.2 billion. Earlier this year, Russell sold Pantheon Ventures, its PE firm, to Affiliated Managers Group for $775 million.

Affiliated Managers Group (NYSE: AMG) said Wednesday that it has completed its buy of Pantheon from Russell Investments (a subsidiary of Northwestern Mutual Life). The deal was valued at roughly $775 million. Pantheon is a fund-of-funds and secondary fund manager. AMG is an asset manager.

Andrew Doman has been named CEO of Russell Investments. He previously was a founding director of McKinsey & Co.’s UK-based European Asset Management practice. He succeeds John Schlifske, who will continue to serve as Russell’s president.