1301 Second Avenue
18th Floor
Seattle, WA 98101
Google Maps
Contact
Main Phone: 206-505-7877
Web Site:
http://www.russell.com/us/SiteNav.asp
Mutual Fund Brand(s)
Russell Funds, LifePoints Funds
Research Links
SEC Fund Filings by CIK
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Background:
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Northwestern Mutual had owned Frank Russell since 1999, yet in December 2014 the London Stock Exchange (LSE) bought Russell from Northwestern for $2.7-billion. In February 2015 the LSE officially put the Russell Investments (i.e. manager-of-managers asset management) on the block, and as of July 9, 2015, the lead bidder in the running to buy Russell Investments was CITIC, a giant Chinese conglomerate.
Founded as a brokerage firm, Russell developed a consulting business evaluating money managers in 1969. That business evolved into a "manager-of-manager" business for the institutional market in 1980. Today, Russell is an international company that manages over 400 funds with myriad investment strategies, serving both individual and institutional investors.
In August 2010 Northwestern Mutual leaders reportedly considered seeking a buyer for Russell Investments. They denied the accuracy of that report at the time. 1
On July 12, 2011, Russell Investments named Len Brennan its new president and CEO. Brennan takes over from Andrew Doman, who has become chairman of the board.
Russell Investments founded and maintains the Russell Indexes, a family of global equity indexes that allow investors to track performance of distinct market segments worldwide. The firm launched its family of U.S. indexes in 1984, and introduced the Russell Global Index in 2007.
Early History
Frank Russell, a retired Wall Street broker, founded Russell Investments in 1936 after moving from New York to Tacoma, Washington. The company initially offered financial counseling services and managed a single mutual fund.
The life insurance provider Northwestern Mutual acquired Russell in 1999, but Russell maintained its name, management, office locations, and investment approach. In the same year, Russell was first listed (at number 15) on the Fortune Magazine "Best Companies to Work for in America" list. Russell Investments appeared on the list again in 2000, 2001, 2002, 2006, and 2008.
In March of 2004, Russell acquired Pantheon Ventures, the global private equity fund-of-funds specialist headquartered in London. In February 2010, Russell sold Pantheon to Boston-based Affiliated Managers Group.
2008 was a year of big changes for Russell. In June, Craig Ueland, Russell's CEO since 2004, left the company. The firm also reportedly hired Boston Consulting Group to help take Russell in a new strategic direction.
Northwestern Mutual's John Schlifske held the CEO spot on an interim basis until January 2009, when Russell hired McKinsey veteran Andrew Doman as its new chief.
In September 2008, Northwestern announced it will support the value of the Lehman Brothers credit held in two money funds, the Russell Investment Co. Money Market Fund and the Russell Trust Co. Short Term Investment Fund. Later that fall, four senior-level executives left the firm, including North American chief investment officer Noel Lamb, senior portfolio manager and head of short-term investments Mark Amberson, senior portfolio manager Philip Coates, and director of credit research Helen Stewart.
In 2010, Russell relocated its headquarters from Tacoma, Washington to Seattle. Russell purchased the former Washington Mutual building in Seattle and renamed it the Russell Investments Center.
In January 2010, Russell hired Barclays Global Investors alums James Polisson as managing director of the global ETF business and Andy Arenberg as managing director of global ETF distribution. Less than three months later, in April, Russell filed to launch 11 new ETFs in the growth, value, and emerging market allocations. As an index provider, Russell has licensing agreements with ETF sponsors including iShares, Direxionshares, ProShares and Rydex ExpressShares.
On January 12, 2011, Russell had announced it was buying ETF provider U.S. One.
1 "Northwestern Mutual mulls selling Russell Investments, sources say," InvestmentNews (Aug. 25, 2010)
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Sponsored Opportunities
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Key People:
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Michelle Seitz
Chief Executive Officer, Board Member, Russell Investments | Len Brennan
Outgoing Chairman, Russell Investments | Vernon Barback
President, Russell Investments | Mark Spina
Head of U.S. Private Client Services, Russell Investments | Cheryl Wichers
Chief Compliance Officer, Russell Investments | Thomas Hanly
Chief Operating Officer, Russell Investments | Erik Ristuben
CIO- Managing Director, Investment Management and Research, Frank Russell | Andy Arenberg
Global Head of ETF Distribution, Russell Investments | Whitney Dow
Director of new business partnerships, Russell Investment Group |
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