London Stock Exchange Group to Sell Russell Investment Management Biz, Retains Indexes

LSEG rejects Russell's asset management unit, keeps indexes

The entrance to the London Stock Exchange

The London Stock Exchange has decided to sell the investment management business of US-based index provider and asset manager Russell Investments, after acquiring the company from the Northwestern Mutual Insurance Company for $2.7 billion last summer.

The LSE already announced that it would retain Russell's indexes vertical in June and combine its with its own FTSE index business to create a global index business with more than $9 trillion in assets benchmarked to its indexes.

In a statement, LSEG said it would continue to be committed to maintaining Russell's client service and products, but will also focus on "successfully integrating Russell Indexes with FTSE."

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