Russ Mould

Russ Mould is one of the United Kingdom’s most respected voices in financial markets and investment analysis, with a career spanning more than three decades across fund management, investment banking, financial media, and public commentary. 

As Investment Director at AJ Bell, he plays a central role in shaping the firm’s market research, client content, and public voice, by providing insight to individual investors, financial advisers, and institutional audiences alike. 

Russ began his career in the capital markets in 1991 at Scottish Equitable, where he worked as a fund manager with responsibility for Nordic and Swiss equity portfolios. This early role gave him hands-on experience in asset allocation, performance management, and the practical pressures of market cycles. 

In 1993, he joined SG Warburg, which later became part of UBS Investment Bank, where he worked for over a decade as a sell-side equity analyst. During this period he specialised in covering the technology sector, with particular expertise in semiconductors. By 2003, he had risen to Managing Director, leading UBS’s global semiconductor research effort. 

Russ’s early career is characterised by rigorous analytical discipline, sharpened during one of the most dynamic eras for technology and equity markets. His work during the late 1990s and early 2000s exposed him to both the heights of the tech boom and the challenges of navigating valuation excess and cyclical disruption -experiences he often references when analysing modern market trends.

In November 2005, Russ joined Shares Magazine as Technology Correspondent, later becoming Editor in 2008. He led editorial strategy and content on equities, macroeconomics, and investment themes, helping make complex financial topics accessible to a broad audience of investors and advisers. 

Following AJ Bell’s acquisition of Shares publisher MSM Media, Russ was appointed Investment Director at AJ Bell in 2013, a role in which he remains a key figure today. In this capacity, he oversees market commentary, research content, and brand engagement across print, broadcast, digital, and social media platforms. 

Russ is also known for his participation in AJ Bell’s broader public engagement, including educational webinars, industry forums and broadcast interviews where he discusses macroeconomic risk, asset allocation and behavioural drivers in markets. His 2025 outlook publications highlighted several key themes he believes investors should watch: steady growth expectations, the need for clear returns from AI-related stocks, scrutiny of private credit and private equity, and the continued influence of major currencies like the yen and the dollar. 

Russ holds a Master’s degree in Modern History from the University of Oxford, a foundation that informs his analytical perspective on economic cycles, policy evolution and structural change in markets. 

Click on the Listen button below to hear Russ and Dominic unpack the forces driving gold’s resurgence and what today’s market dynamics reveal about confidence in money, policy, and power. Click on the Read button for a more in-depth analysis of the subject, exploring how gold, currencies, equities, and risk perception are being reshaped in an increasingly uncertain global financial system.