Russell Investments Group LLC is an American investment firm headquartered in

Seattle Seattle ( ) is the most populous city in the U.S. state of Washington and in the Pacific Northwest region of North America. With a population of 780,995 in 2024, it is the 18th-most populous city in the United States. The city is the cou ...

Washington Washington most commonly refers to: * George Washington (1732–1799), the first president of the United States * Washington (state), a state in the Pacific Northwest of the United States * Washington, D.C., the capital of the United States ** A ...

Corporate overview

According to ''

American Banker ''American Banker'' is a New York-based trade publication covering the financial services industry. Originally a daily newspaper, the print edition ceased publication in 2016, but continues to be published as a print magazine nine times a year. ...

'', Russell Investments has approximately $300 billion of

assets under management In finance, assets under management (AUM), sometimes called fund under management, refers to the total market value of all financial assets that a financial institution—such as a mutual fund, venture capital firm, or depository institutio ...

, as of September 2019. The firm ranks as the third largest outsourced CIO (OCIO) provider globally. Additionally, the company has $2.6 trillion under advisement across 32 countries, making Russell Investments the world's fourth-largest adviser. The company has an investment outsourcing division to assist clients with

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

and retirement portfolios, among other services. Clients have included

AT&T AT&T Inc., an abbreviation for its predecessor's former name, the American Telephone and Telegraph Company, is an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the w ...

Boeing The Boeing Company, or simply Boeing (), is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and missiles worldwide. The company also provides leasing and product support s ...

, and

Union Pacific Railroad The Union Pacific Railroad is a Railroad classes, Class I freight-hauling railroad that operates 8,300 locomotives over routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second largest railroad in the United Stat ...

. Russell Investments had approximately 1,350 employees, as of late 2019. The majority are based in

, while others work at offices in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

Sydney Sydney is the capital city of the States and territories of Australia, state of New South Wales and the List of cities in Australia by population, most populous city in Australia. Located on Australia's east coast, the metropolis surrounds Syd ...

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

, and

Toronto Toronto ( , locally pronounced or ) is the List of the largest municipalities in Canada by population, most populous city in Canada. It is the capital city of the Provinces and territories of Canada, Canadian province of Ontario. With a p ...

, among other cities.

History

Founded by Frank Russell in 1936 in

Tacoma, Washington Tacoma ( ) is the county seat of Pierce County, Washington, United States. A port city, it is situated along Washington's Puget Sound, southwest of Seattle, southwest of Bellevue, Washington, Bellevue, northeast of the state capital, Olympia ...

, Russell Investments began as a

stockbroker A stockbroker is an individual or company that buys and sells stocks and other investments for a financial market participant in return for a commission, markup, or fee. In most countries they are regulated as a broker or broker-dealer and ...

and

consultant A consultant (from "to deliberate") is a professional (also known as ''expert'', ''specialist'', see variations of meaning below) who provides advice or services in an area of specialization (generally to medium or large-size corporations). Cons ...

, and later created the

Russell 2000 Index The Russell 2000 Index is a small-cap U.S. stock market index that makes up the smallest 2,000 stocks in the Russell Index. It was started by the Frank Russell Company in 1984. The index is maintained by FTSE Russell, a subsidiary of the L ...

, one of the most followed

stock market indices In finance, a stock index, or stock market index, is an index that measures the performance of a stock market, or of a subset of a stock market. It helps investors compare current stock price levels with past prices to calculate market perfor ...

in the U.S. His grandson, George Russell, has been credited with expanding the company and pioneering the business of pension consulting when he secured J. C. Penney as the first pension client.

Northwestern Mutual Northwestern Mutual is an American financial services mutual organization headquartered in Milwaukee, Wisconsin. The financial security company provides consultation on wealth and asset income protection, education planning, retirement planning ...

acquired Russell Investments during 1998–1999 for $1.2 billion. The company's headquarters were relocated to Seattle in 2009. In 2014,

London Stock Exchange Group London Stock Exchange Group plc, also known as LSEG, is a global provider of financial markets data and infrastructure headquartered in London, England. It owns the London Stock Exchange (on which it is also listed), Refinitiv, LSEG Technol ...

(LSEG) acquired the firm for $2.7 billion. Russell Investments had approximately $256 billion in assets under management at the time. LSEG separated the

Russell Indexes Russell indexes are a family of global stock market indices from FTSE Russell that allow investors to track the performance of distinct market segments worldwide. Many investors use mutual funds or exchange-traded funds based on the FTSE Russell In ...

from other Frank Russell group companies doing business as Russell Investments, such as asset management and consulting, opting to retain the former and sell the latter. LSEG announced the

FTSE Russell FTSE Russell is a subsidiary of London Stock Exchange Group (LSEG) that produces, maintains, licenses, and markets stock market indices. The division is notable for the FTSE 100 Index in the UK and the Russell 2000 Index in the US, among others. ...

brand in May 2015. During 2015–2016, the company was valued at $1.15 billion and purchased by

TA Associates TA Associates Management, L.P. is an American private equity firm and was one of the early modern-era private equity firms in the United States. The firm leads buyouts and minority recapitalizations of profitable growth companies. TA invests acros ...

, a

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

-based

private equity firm A private equity firm or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a Startup company, startup or of an existin ...

, from LSEG. TA hired

Goldman Sachs The Goldman Sachs Group, Inc. ( ) is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered in Lower Manhattan in New York City, with regional headquarters in many internationa ...

in 2019 to assess Russell Investments' possible sale.

Leadership

George Russell served as

chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

until 2002. Craig Ueland was promoted from

chief operating officer A chief operating officer (COO), also called chief operations officer, is an executive in charge of the daily operations of an organization (i.e. personnel, resources, and logistics). COOs are usually second-in-command immediately after the C ...

president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university *President (government title) President may also refer to: Arts and entertainment Film and television *'' Præsident ...

in 2003. He succeeded Mike Phillips, who also served as

, as

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

(CEO) in 2004. Ueland was CEO until 2008, when

's John Schlifske was named president and CEO. Andrew S. Doman began serving as CEO starting in early 2009, and he was succeeded by Len Brennan in 2011. Michelle Seitz became the company's first female CEO, and seventh overall, in September 2017. Four months later, she became the chairman as well, serving in both roles until September of 2022. In February 2023, it was announced that Zach Buchwald, then head of BlackRock's institutional business, would join Russell as CEO.

References

{{Authority control London Stock Exchange Group Investment management companies of the United States Financial services companies established in 1936 Companies based in Seattle 1936 establishments in Washington (state) Exchange-traded funds Asset management companies

Corporate overview

History

Leadership

See also

References