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#REDIRECT [[Russell Investments]]
{{multiple issues|1=
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[[Category:London Stock Exchange]]
{{primary sources|date=March 2019}}
{{prose|date=March 2019}}
{{refimprove|date=March 2019}}
}}
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{{split|Russell Investments|date=March 2019}}
{{distinguish|FTSE Russell}}
{{Infobox company
| name = Frank Russell Company
| trading_name = [[FTSE Russell]]
⚫
| owner = [[London Stock Exchange Group]]
| homepage = {{url|ftserussell.com}}
}}
{{Infobox company
| name = Russell Investment
| logo = Russelllogo.GIF
| logo_caption = Russell Investment Group Logo
| image = RussellRainier.JPG
| image_caption = Russell Investments former headquarters in downtown Tacoma, WA, with Mt. Rainier in the background.
| type = [[Subsidiary]]
| key_people = Michelle Seitz, CEO
| industry = [[Financial Services]]
| aum = $261.2 billion as of 2018-12-31<ref>{{cite web |title=Russell Investments' history |url=https://russellinvestments.com/us/about-us/history |website=Russell Investments |accessdate=2 March 2019}}</ref>
| num_employees = 1350<ref>{{cite web |title=Russell Investments' history |url=https://russellinvestments.com/us/about-us/history |website=Russell Investments |accessdate=2 March 2019}}</ref>
| parent = [[TA Associates]]
| homepage = {{url|russellinvestments.com}}
| foundation = 1936
| location = [[Russell Investments Center]]<br>[[Seattle, Washington]], [[United States]]
}}
'''Frank Russell Company''' is a subsidiary of [[London Stock Exchange Group]] (LSEG). However, its asset management division, as '''Russell Investments''', was sold by LSEG to [[TA Associates]] in 2015. Russell Investments provides multi-asset investing solutions{{solution-inline|date=May 2019}} to institutional investors, as well as to individuals via financial advisors.<ref>https://russellinvestments.com/us/about-us</ref>{{primary source inline|date=March 2019}} Russell Investments is owned by private equity firms [[TA Associates]] and Reverence Capital Partners.<ref>[https://www.nytimes.com/2015/10/09/business/dealbook/ta-associates-to-buy-russell-investments-for-1-15-billion.html?_r=0 News article]</ref><ref>http://www.ta.com/about/news/ta-associates-and-reverence-capital-partners-complete-acquisition-of-russell-investments-from-london-stock-exchange-group</ref>{{primary source inline|date=March 2019}}

==History==
*1936 — Local businessman Frank Russell starts a small brokerage firm in [[Tacoma, Washington]].
*1958 — George Russell joins his grandfather's firm, Frank Russell Company. Six months later, George becomes chairman, president and CEO when his grandfather dies. The company has two employees — George and an assistant.
*1974 — Russell's institutional consulting business grows from a single client to 40 major U.S. clients, including [[American Telephone & Telegraph|AT&T]] and [[General Motors]].
*1979 — Russell initiates its global presence with the opening of an office in [[London]].
*1980 — Russell launches its investment management business in response to a client's request for funds that provide a fully diversified and packaged blend of investment managers. Russell begins leveraging its research of outside managers{{clarify|date=May 2013}} to create a manager-of-managers investment process for smaller retirement plans and individuals.
*1984 — Russell researchers create the Russell 1000, Russell 2000, and Russell 3000 Indexes as benchmarks for evaluating manager performance. Russell opens an office in Toronto, Ontario.
*1986 — Russell opens an office in [[Tokyo, Japan]] and opens an office in [[Sydney, Australia]].
*1988 — Russell dedicates a new headquarters building in Tacoma, Wash.
*1990 — [[Mike Phillips (CEO)|Mike Phillips]] is named president of Frank Russell Company. In 1993, he is named chief executive officer. George Russell continues as chairman. George Russell establishes Russell 20-20, a group of independent money managers and plan sponsors who explore emerging markets with an eye toward investment opportunities.
*1998 — [[Northwestern Mutual]], a life insurer in the United States, acquires Frank Russell Company.<ref>{{cite news|url=https://www.wsj.com/articles/SB902713756720915000|title=Northwestern Mutual Life To Acquire Frank Russell|date=August 10, 1998|accessdate=March 19, 2019|newspaper=The Wall Street Journal|first=Deborah|last=Lohse|url-access=subscription}}</ref> The company retains the Russell name, management, office locations and investment approach.
*1999 — Russell expands to Singapore.<ref>{{Cite web|url=https://www.financeasia.com/article/russell-expands-singapore-team/31033|title=Russell expands Singapore team {{!}} russell, expands, singapore, team|last=DiBiasio|first=Jame|website=FinanceAsia|access-date=2019-07-20}}</ref>
*2002 — George Russell retires, retaining the role of chairman emeritus for Frank Russell Company and Russell 20-20.
*2003 — Russell changes its business name to Russell Investment Group.{{cn|date=March 2019}} [[Craig Ueland]] is appointed president of Russell in July 2003 and then CEO effective January 2004.
*2004 — In March, Russell acquires [[Pantheon Ventures]], the global private equity fund-of-funds specialist headquartered in London. In August, Russell acquires the Australian HR services operation of Towers Perrin.
*2007 — Russell's family of U.S. equity indexes goes global with the launch of a family of global stock indexes. Russell opens an office in Seoul, Korea.
*2008 — Russell investments announced that they might leave Tacoma, having outgrown their old headquarters. The lease on the headquarters on A Street expires in 2013. Local government officials, wary of losing the biggest company in downtown Tacoma, have started an attractive campaign to keep Russell in Tacoma, including plans for a brand new headquarters.<ref>{{cite web|url=http://www.thenewstribune.com/1032/story/323205.html|title=Local News - The News Tribune|work=thenewstribune.com|deadurl=yes|archiveurl=https://archive.is/20130204033700/http://www.thenewstribune.com/1032/story/323205.html|archivedate=2013-02-04|df=}}</ref><ref>{{cite web|url=http://www.thenewstribune.com/1031/story/312784.html|title=Local News - The News Tribune|work=thenewstribune.com|deadurl=yes|archiveurl=https://archive.is/20120912164132/http://www.thenewstribune.com/1031/story/312784.html|archivedate=2012-09-12|df=}}</ref>
::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.
*2009 — 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 (Seattle)|Chase Center]] in [[Seattle]].
*2010 — Russell Investments completes move of headquarters to Seattle. The former Chase Center building is now renamed Russell Investments Center.{{cn|date=March 2019}}
*2011 — 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.
*2014 — Northwestern Mutual sells Frank Russell Company to London Stock Exchange Group for US$2.7&nbsp;billion.<ref>{{cite press release|url=https://www.lseg.com/resources/media-centre/press-releases/proposed-acquisition-frank-russell-company-and-fully-underwritten-rights-issue|title=PROPOSED ACQUISITION OF FRANK RUSSELL COMPANY AND FULLY UNDERWRITTEN RIGHTS ISSUE |date=26 June 2014|access-date=18 March 2019|publisher=London Stock Exchange Group}}</ref>{{primary source inline|date=March 2019}} The acquisition was completed in December 2014.<ref>{{cite press release|url=https://www.lseg.com/resources/media-centre/press-releases/completion-acquisition|title=Completion of Acquisition |date=3 December 2014|access-date=19 March 2019|publisher=London Stock Exchange Group}}</ref>{{primary source inline|date=March 2019}}
*2015 — LSEG separates Russell's index business from the consulting, asset management and consulting business by forming "[[FTSE Russell]]" brand<ref>{{cite press release|url=https://www.lseg.com/resources/media-centre/press-releases/lseg-launches-new-ftse-russell-brand|title=LSEG launches new FTSE Russell brand |date=18 May 2015|access-date=18 March 2019|publisher=London Stock Exchange Group}}</ref>{{primary source inline|date=March 2019}}
*2015 — London Stock Exchange Group sold Frank Russell Company's asset management division Russell Investments<ref name=2016RussellInvestments/> to [[TA Associates]] and Reverence Capital Partners for US$1.15 billion.<ref>{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11920333/London-Stock-Exchange-sells-Russell-Investments-for-1.2bn.html|title=London Stock Exchange sells Russell Investments for $1.2bn|date=October 8, 2015|access-date=March 18, 2019|newspaper=The Telegraph|publication-place=London}}</ref><ref>{{cite press release|url=https://www.lseg.com/resources/media-centre/press-releases/proposed-sale-frank-russell-companys-asset-management-business|title=Proposed Sale of Frank Russell Company's Asset Management Business |date=October 8, 2015|access-date=March 18, 2019|publisher=London Stock Exchange Group}}</ref> The transaction was completed in 2016.<ref name=2016RussellInvestments>{{cite press release|url=https://www.ta.com/about/news/ta-associates-and-reverence-capital-partners-complete-acquisition-of-russell-investments-from-london-stock-exchange-group|title=TA Associates and Reverence Capital Partners Complete Acquisition of Russell Investments from London Stock Exchange Group|date=June 1, 2016|access-date=March 18, 2019|publisher=TA Associates|location=Boston}}</ref>{{primary source inline|date=March 2019}} LSEG kept the remaining of Frank Russell Company, as well as the indexes side of the business as FTSE Russell.
*2017 — [[Willis Towers Watson]] signs a definitive agreement to acquire its stand-alone Australian actuarial business for an undisclosed sum.<ref>http://www.insurancebusinessmag.com/nz/news/breaking-news/breaking-news-willis-towers-watson-announces-latest-acquisition-60258.aspx</ref>
*2017 - Michelle Seitz named CEO of Russell Investments <ref>https://russellinvestments.com/us/about-us/newsroom/2017/michelle-seitz-named-chief-executive-officer-of-russell-investments</ref>

==Products and services==
Russell provides financial and investment services to institutional clients such as pension funds, non-profits, healthcare systems and defined contribution plans.<ref name="researchcenter.pionline.com">{{cite web|url=http://researchcenter.pionline.com/profiles/money-manager/35098/overview|title=Pensions & Investments}}</ref><ref name="researchcenter.pionline.com"/><ref>{{cite web|url=http://www.glassdoor.com/Overview/Working-at-Russell-Investments-EI_IE11403.11,30.htm|publisher=GlassDoor.com|title=Working at Russell Investments}}</ref> Individual investors can access these services through one of Russell's 580 partners, such as banks, brokers and insurance companies.<ref>{{cite news|url=http://www.investmentnews.com/article/20120911/FREE/120919981|newspaper=InvestmentNews|title=Advisers stick to global-diversification guns despite turmoil}}</ref>

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.{{citation needed|date=May 2013}}

After purchasing all of Russell from NorthWest Mutual in 2014,<ref>[http://www.lseg.com/sites/default/files/content/documents/LSEG%20acquisition%20of%20Russell%20-%20Presentation%20-%2026%20June%202014.pdf]</ref>{{primary source inline|date=March 2019}} the London Stock Exchange Group announced on May 18, 2015 the launch of ‘FTSE Russell’, the new integrated name created for the combined businesses of FTSE Group and Russell Indexes. Effectively splitting out the index business from Russell's advice, asset management and investment management offerings, FTSE Russell will now operate as one joint global index business which is no longer owned by Russell Investments or TA Associates.<ref>[http://www.lseg.com/sites/default/files/content/documents/LSEG%20RNS%20Completion%20of%20Sale%20of%20Frank%20Russell%20Company’s%20Asset%20Management%20Business%201Jun2016.pdf]</ref>{{primary source inline|date=March 2019}}

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==
*[[Russell Indexes]]
*[[Russell 3000 Index]]
*[[Russell 2500 Index]]
*[[Russell 2000 Index]]
*[[Russell 1000 Index]]
*[[Russell Top 200 Index]]
*[[Russell Top 50 Index]]
*[[Russell Midcap Index]]
*[[Russell Microcap Index]]
*[[Russell Small Cap Completeness Index]]

==References==
{{Reflist}}

[[Category:Companies based in Seattle]]
[[Category:1999 mergers and acquisitions]]
[[Category:2014 mergers and acquisitions]]
[[Category:2016 mergers and acquisitions]]
[[Category:American companies established in 1936]]
[[Category:Private equity portfolio companies]]
[[Category:National Bureau of Asian Research]]
[[Category:TA Associates]]

Latest revision as of 08:54, 13 December 2024

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