Russell Investments

Russell Investments Group LLC is an American investment firm headquartered in Seattle, Washington.

Corporate overview

According to American Banker, Russell Investments has approximately $300 billion of assets under management, as of September 2019.[3] The firm ranks as the third largest outsourced CIO (OCIO) provider globally.[4] Additionally, the company has $2.6 trillion under advisement across 32 countries, making Russell Investments the world's fourth-largest adviser.[3] The company has an investment outsourcing division to assist clients with investment and retirement portfolios, among other services. Clients have included AT&T, Boeing, and Union Pacific Railroad.[5]

Russell Investments had approximately 1,350 employees, as of late 2019.[6] The majority are based in Seattle, while others work at offices in London, New York City, Sydney, Tokyo, and Toronto, among other cities.[7][8][9]

History

Founded by Frank Russell in 1936 in Tacoma, Washington,[10][11] Russell Investments began as a stockbroker and consultant, and later created the Russell 2000 Index, one of the most followed stock market indices in the U.S.[12] 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.[10]

Northwestern Mutual acquired Russell Investments during 1998–1999 for $1.2 billion.[10][11][13] The company's headquarters were relocated to Seattle in 2010.[11][14]

In 2014, London Stock Exchange Group (LSEG) acquired the firm for $2.7 billion.[12][13] Russell Investments had approximately $256 billion in assets under management at the time.[13] LSEG separated the Russell Indexes 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.[12][15] LSEG announced the FTSE Russell brand in May 2015.[16]

During 2015–2016, the company was valued at $1.15 billion and purchased by TA Associates, a Boston-based private equity firm, from LSEG.[7][17] TA hired Goldman Sachs in 2019 to assess Russell Investments' possible sale.[5]

Awards

In 2023, Russell Investments was named Mid-Size Manager of the Year at the MMI/Barron’s Industry Awards, which honor innovation and leadership in investment advisory solutions.[24] That same year, The TRADE magazine ranked the firm first in multiple categories in its Outsourced Trading Survey, awarding perfect scores for client service, onboarding, business model, and value for money.[25]

In 2024, Russell Investments was recognized in the U.K. and Europe for its factor-based investment expertise, receiving “Factor Investing Offering of the Year” at both the Pensions Age Awards and the European Pensions Awards.[26][27]

In 2025, the firm was honored in Australia with the Institute of Managed Account Professionals’ (IMAP) Managed Account Award for Responsible Investing.[28]

See also

• List of asset management firms