Russell Investments

Russell Investments
Subsidiary
Industry Financial Services
Founded 1936
Headquarters Russell Investments Center
Seattle, Washington, United States
Key people
Len Brennan, President & CEO
AUM $279.7 billion as of 06/30/14
Number of employees
1900[1]
Parent London Stock Exchange Group
Website www.russell.com
Russell Investments former headquarters in downtown Tacoma, WA, with Mt. Rainier in the background.

Russell Investments is a Seattle-based subsidiary of the London Stock Exchange Group, which acquired it for $2.7 billion in 2014.[2] The company is a global asset management firm, founded in 1936. Russell Investments is the creator of the Russell Indexes. It also provides investment consulting and other financial services to institutional investors and to individuals through a network of partners.

History

FT reports that Russell Investments is to close two of its three main hedge funds following a sharp drop in assets under management to less than two billion USD. Investors were already gated and redemptions reported to be high. Many staff in the Alternatives Division were laid off, with the few remaining persons employed to oversee the wind-down process of the above.
Russell’s Board of Directors named Andrew Doman as Russell’s new Chief Executive Officer. Andrew Doman assumed role of President upon John Schlifske's return to Northwestern Mutual.
Russell Investments said they would move headquarters from Tacoma to Chase Center in Seattle.
Russell's Board of Directors named Len Brennan as Russell's new Chief Executive Officer. He is also chief executive of the firm's Europe, Middle East, Africa business.
Russell Investments opens its first regional office in Germany with the launch of Frankfurt operations during October.

Products and services

Russell provides financial and investment services to institutional clients such as pension funds, non-profits, healthcare systems and defined contribution plans.[5][5][6] Individual investors can access these services through one of Russell's 580 partners, such as banks, brokers and insurance companies.[7][8] Russell U.S. Indexes have $4.1 trillion in assets benchmarked to them, including more than $80 billion in ETF assets that are linked to Russell’s Indexes.[9]

Russell launched its family of U.S. indexes in 1984 to measure the U.S. market segments. The resulting methodology produced the broad market Russell 3000 Index and the small-cap Russell 2000 Index. The Russell Global Index, introduced in 2007, captures 98% of the global equity market and reflects the performance of more than 10,000 stocks worldwide. As of June 30, 2008, Russell's U.S. indexes have US$4.0 trillion in assets benchmarked to them and account for 63.3 percent of U.S. equity products benchmarked by U.S. institutional investors. Russell/Nomura equity indexes (calculated with Nomura Securities Co., Ltd.) offer broad market or style benchmarks for investors in Japan.

In North America, Russell delivers target date and target portfolio products directly to Defined Contribution (DC) plan sponsors, as well as distributes LifePoints Funds through financial professionals.

See also

References

External links