London Stock Exchange Group (LSEG) has concluded a review of the investment management business of Russell Investments and decided to sell the unit.
“After careful consideration, the conclusion of the comprehensive review is to explore a sale of this business in its entirety,” says a statement from LSEG.
The company has “already received a number of expressions of interest in a potential acquisition” of the investment management division. It’s been reported CIBC is interested in buying the business.
Read: CIBC may bid for Russell’s asset management division: Report
In the meantime, LSEG continues to focus on successfully integrating Russell Indexes with FTSE.
LSEG bought Russell from Northwestern Mutual last year and said in June it would undertake a comprehensive review of Russell’s investment management business to determine its positioning and fit with the group.
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