London Stock Exchange Group (LSEG) has completed the acquisition of Frank Russell Company from Northwestern Mutual.
LSEG says a comprehensive review of Russell’s investment management business is making good progress and is on track to be completed early in 2015.
“Russell significantly enhances LSEG’s presence in the U.S., the world’s largest global financial services market, further expanding our global footprint and diversifying our customer and product base,” says LSEG CEO Xavier Rolet.
Russell has been a good investment for us, says Northwestern Mutual CEO John Schlifske.
“Russell’s operating results have made significant contributions to our financial results over the years,” he explains. “When you look at this sale price and the income produced for us since we bought Russell in 1999, you get a rate of return well in excess of equity indices over that period.”
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