CIBC may bid for Russell's asset management division: Report

CIBC is looking at buying Russell’s investment management division, says Bloomberg News.

The bank was reportedly in talks to buy Russell earlier this year when Northwestern Mutual put the company up for sale.

London Stock Exchange Group, which closed its acquisition of Russell last week, said a comprehensive review of Russell’s investment management business “is making good progress and is on track to be completed early in 2015.”

LSEG reportedly bought Russell primarily for its indexes business.

The full story is available on the Bloomberg News website.

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CIBC may bid for Russell’s asset management division: Report

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