{{Short description|Investment firm headquartered in Seattle, Washington}} {{Distinguish|FTSE Russell}} {{Infobox company | name = Russell Investments Group LLC | logo = | logo_size = | logo_alt = | logo_caption = | image = | image_size = | image_alt = | image_caption = | trade_name = | native_name = | native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{Lang|[code]|[name]}} in native_name = and leave native_name_lang = empty. --> | romanized_name = | former_name = | type = | traded_as = | ISIN = | industry = Financial services | genre = | fate = | predecessor = <!-- or: | predecessors = --> | successor = <!-- or: | successors = --> | founded = {{Start date and age|1936}} in Tacoma, Washington, U.S. | founder = Frank Russell | defunct = <!-- {{End date|YYYY|MM|DD}} --> | hq_location = Russell Investments Center | hq_location_city = Seattle, Washington | hq_location_country = U.S. | num_locations = | num_locations_year = <!-- Year of num_locations data (if known) --> | area_served = <!-- or: | areas_served = --> | key_people = Zach Buchwald (CEO, chairman)<ref>{{cite web |last=McElhaney |first=Alicia |date=February 8, 2023 |title=Russell Investments Taps BlackRock Exec for New CEO |url=https://www.institutionalinvestor.com/article/2bstq4h4e2sqjwzu9cjr4/corner-office/russell-investments-taps-blackrock-exec-for-new-ceo |work=Institutional Investor}}</ref> | products = | brands = | production = | production_year = <!-- Year of production data (if known) --> | services = | revenue = | revenue_year = <!-- Year of revenue data (if known) --> | operating_income = | income_year = <!-- Year of operating_income data (if known) --> | net_income = <!-- or: | profit = --> | net_income_year = <!-- or: | profit_year = --><!-- Year of net_income/profit data (if known) --> | aum = $327.5 billion (9/30/2024)<ref>{{cite web | url=https://www.linkedin.com/company/russell-investments|title=Rusell Investments on LinkedIn}}</ref> | assets = | assets_year = <!-- Year of assets data (if known) --> | equity = | equity_year = <!-- Year of equity data (if known) --> | owner = <!-- or: | owners = --> | members = | members_year = <!-- Year of members data (if known) --> | num_employees = 1,350 | num_employees_year = 2019 | parent = | divisions = | subsid = | module = <!-- Used to embed other templates --> | ratio = <!-- Basel III ratio; used for banks only --> | rating = <!-- Credit rating; used for banks only --> | website = {{URL|russellinvestments.com}} | footnotes = }} '''Russell Investments Group LLC''' is an American investment firm headquartered in Seattle, Washington.
==Corporate overview== According to ''American Banker'', Russell Investments has approximately $300 billion of assets under management, as of September 2019.<ref name=":0">{{Cite web|date=2019-09-23|title=Most Powerful Women in Finance: No. 18, Russell Investments' Michelle Seitz|url=https://www.americanbanker.com/news/most-powerful-women-in-finance-for-2019-no-18-russell-investments-michelle-seitz|access-date=2020-10-16|website=American Banker|language=en}}</ref> The firm ranks as the third largest outsourced CIO (OCIO) provider globally.<ref>{{Cite web|date=2020-06-29|title=OCIO growth assisted by volatile times|url=https://www.pionline.com/special-report-cio-outsourcing/ocio-growth-assisted-volatile-times|access-date=2020-10-16|website=Pensions & Investments|language=en}}</ref> Additionally, the company has $2.6 trillion under advisement across 32 countries, making Russell Investments the world's fourth-largest adviser.<ref name=":0" /> The company has an investment outsourcing division to assist clients with investment and retirement portfolios, among other services. Clients have included AT&T, Boeing, and Union Pacific Railroad.<ref name="FT">{{cite news |title=Asset manager Russell Investments put up for sale |url=https://www.ft.com/content/55c70c8a-0a5b-11ea-bb52-34c8d9dc6d84 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/55c70c8a-0a5b-11ea-bb52-34c8d9dc6d84 |archive-date=2022-12-10 |url-access=subscription |accessdate=January 22, 2020 |work=Financial Times |date=November 18, 2019 |first1=Eric |last1=Platt |first2=James |last2=Fontanella-Khan |first3=Owen |last3=Walker}}</ref>
Russell Investments had approximately 1,350 employees, as of late 2019.<ref name=Garnick>{{cite journal |last1=Garnick |first1=Coral |title=Russell Investments' first female CEO reflects on 'rarity and responsibility' of her position |journal=Puget Sound Business Journal |date=November 27, 2019 |url=https://www.bizjournals.com/seattle/news/2019/11/26/russell-investments-michelle-seitz-ceo.html |accessdate=February 12, 2020 |publisher=American City Business Journals}}</ref> The majority are based in Seattle, while others work at offices in London, New York City, Sydney, Tokyo, and Toronto, among other cities.<ref name="SeattleTimes">{{cite news |last1=González |first1=Ángel |title=Russell Investments' asset-management arm sold for $1.15 billion |url=https://www.seattletimes.com/business/local-business/russell-investments-asset-management-arm-sold-for-115-billion/ |accessdate=January 22, 2020 |work=The Seattle Times |date=October 8, 2015}}</ref><ref>{{cite news |title=Russell's new chief says it's time to get 'personal' |url=https://www.ft.com/content/9981df8a-cebd-11e7-9dbb-291a884dd8c6 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/9981df8a-cebd-11e7-9dbb-291a884dd8c6 |archive-date=2022-12-10 |url-access=subscription |url-status=live |accessdate=February 12, 2020 |work=Financial Times |date=December 12, 2017}}</ref><ref>{{cite news |last1=Sharp |first1=Ari |title=Asset management in an age of long life expectancy |url=https://www.japantimes.co.jp/life/2020/01/05/people/asset-management-age-long-life-expectancy/#.XijyMy2ZOu4 |accessdate=January 22, 2020 |work=The Japan Times |date=January 5, 2020}}</ref>
==History== Founded by Frank Russell in 1936 in Tacoma, Washington,<ref name="Brunner">{{cite news |last1=Brunner |first1=Jim |title=Tacoma vs. Seattle: fight over Russell Investments worth millions |url=https://www.seattletimes.com/seattle-news/tacoma-vs-seattle-fight-over-russell-investments-worth-millions/ |accessdate=January 28, 2020 |work=The Seattle Times |date=June 7, 2009}}</ref><ref name="Matthews">{{cite news |last1=Matthews |first1=Todd |title=Russell Investments moving to Seattle |url=http://www.tacomadailyindex.com/blog/russell-investments-moving-to-seattle/1620707/ |accessdate=January 28, 2020 |work=Tacoma Daily Index |date=September 9, 2009}}</ref> Russell Investments began as a stockbroker and consultant, and later created the Russell 2000 Index, one of the most followed stock market indices in the U.S.<ref name="FN">{{cite news |last1=Ricketts |first1=David |title=Russell Investments put up for sale by TA Associates — report |url=https://www.fnlondon.com/articles/russell-investments-put-up-for-sale-by-ta-associates-report-20191119 |accessdate=January 22, 2020 |work=Financial News |date=November 19, 2019}}</ref> His grandson, George Russell, has been credited with expanding the company and pioneering the business of pension consulting when he secured J. C. Penney as the first pension client.<ref name=Brunner/>
Northwestern Mutual acquired Russell Investments during 1998–1999 for $1.2 billion.<ref name=Brunner/><ref name=Matthews/><ref name="Gillie">{{cite news |last1=Gillie |first1=John |title=Northwestern Mutual completes sale of formerly Tacoma-based Russell Investments |url=https://www.thenewstribune.com/news/business/article25900819.html |accessdate=January 28, 2020 |work=The News Tribune |date=December 4, 2014}}</ref> The company's headquarters were relocated to Seattle in 2010.<ref name=Matthews/><ref name="Tibbits">{{cite news |last1=Tibbits |first1=George |title=Russell Investments will leave Tacoma for Seattle |url=https://www.heraldnet.com/business/russell-investments-will-leave-tacoma-for-seattle/ |accessdate=January 28, 2020 |work=The Herald |agency=Associated Press |date=September 9, 2009}}</ref>
In 2014, London Stock Exchange Group (LSEG) acquired the firm for $2.7 billion.<ref name=FN/><ref name=Gillie/> Russell Investments had approximately $256 billion in assets under management at the time.<ref name=Gillie/> LSEG separated the Russell Indexes from other Frank Russell group companies doing business as Russell Investments, such as asset management and consulting, opting to retain the former and sell the latter.<ref name=FN/><ref>{{cite news |last1=Bray |first1=Chad |title=TA Associates to Buy Russell Investments for $1.15 Billion |url=https://www.nytimes.com/2015/10/09/business/dealbook/ta-associates-to-buy-russell-investments-for-1-15-billion.html |accessdate=January 22, 2020 |work=The New York Times |date=October 8, 2015}}</ref> LSEG announced the FTSE Russell brand in May 2015.<ref>{{cite book |title=Research Handbook of Finance and Sustainability |date=April 27, 2018 |publisher=Edward Elgar Publishing |page=346 |url=https://books.google.com/books?id=BClWDwAAQBAJ&pg=PA346 |accessdate=January 22, 2020 |first1=Sabri |last1=Boubaker |first2=Douglas |last2=Cumming |first3=Duc Khuong |last3=Nguyen|isbn=9781786432636 }}</ref>
During 2015–2016, the company was valued at $1.15 billion and purchased by TA Associates, a Boston-based private equity firm, from LSEG.<ref name=SeattleTimes/><ref>{{cite news |last1=Brown |first1=Courtenay |title=Russell Investments is looking for a buyer |url=https://www.axios.com/russell-investments-asset-management-buyer-6d50ad55-b3e2-4c3d-b491-e7cea18e46e3.html |accessdate=January 22, 2020 |work=Axios |date=November 20, 2019}}</ref> TA hired Goldman Sachs in 2019 to assess Russell Investments' possible sale.<ref name=FT/>
===Leadership=== George Russell served as chairman until 2002.<ref name=Brunner/> Craig Ueland was promoted from chief operating officer to president in 2003. He succeeded Mike Phillips, who also served as chairman, as chief executive officer (CEO) in 2004. Ueland was CEO until 2008, when Northwestern Mutual's John Schlifske was named president and CEO.<ref name="DeSilver">{{cite news |last1=DeSilver |first1=Drew |title=Russell Investments replaces CEO in sudden move |url=https://www.seattletimes.com/opinion/russell-investments-replaces-ceo-in-sudden-move-1/ |accessdate=January 22, 2020 |work=The Seattle Times |date=June 10, 2008}}</ref> Andrew S. Doman began serving as CEO starting in early 2009,<ref>{{cite journal |last1=Helm |first1=Leslie D. |title=Andrew S. Doman |journal=Seattle Business |date=October 2010 |url=https://seattlebusinessmag.com/article/andrew-s-doman-russell-investments |accessdate=January 22, 2020}}</ref> and he was succeeded by Len Brennan in 2011.<ref name=FN/><ref>{{cite journal |last1=Stewart |first1=Ashley |title=Russell Investments CEO on acquisition, layoffs and the firm's future |journal=Puget Sound Business Journal |date=July 22, 2016 |url=https://www.bizjournals.com/seattle/news/2016/07/22/exclusive-russell-investments-ceo-on-acquisition.html |accessdate=January 22, 2020}}</ref> Michelle Seitz became the company's first female CEO,<ref name=Garnick/> and seventh overall, in September 2017. Four months later, she became the chairman as well, serving in both roles until September of 2022.<ref name="AB">{{cite journal|last1=Kline|first1=Alan|date=September 22, 2019|title=Most Powerful Women in Finance: No. 18, Russell Investments' Michelle Seitz|url=https://www.americanbanker.com/news/most-powerful-women-in-finance-for-2019-no-18-russell-investments-michelle-seitz|journal=American Banker|accessdate=January 22, 2020}}</ref> In February 2023, it was announced that Zach Buchwald, then head of BlackRock's institutional business, would join Russell Investments as CEO.<ref>{{cite web | url=https://www.institutionalinvestor.com/article/2bstq4h4e2sqjwzu9cjr4/corner-office/russell-investments-taps-blackrock-exec-for-new-ceo | title=Russell Investments Taps BlackRock Exec for New CEO | date=8 February 2023 }}</ref> Kate El Hillow has served as President and Chief Investment Officer since 2022.<ref name="RussellLeadership">{{cite news |title=Russell Investments appoints Kate El-Hillow as President and Chief Investment Officer |url=https://www.pionline.com/money-management/russell-investments-appoints-kate-el-hillow-president-and-chief-investment-officer |work=Pensions & Investments |date=2022-04-19 |access-date=13 Nov 2025}}</ref>
==Awards== In 2023, Russell Investments was named Mid-Size Manager of the Year at the MMI/Barron’s Industry Awards, which honor innovation and leadership in investment advisory solutions.<ref name="MMI2023">{{cite news |title=Money Management Institute Announces Winners for 2023 MMI/Barron’s Industry Awards |url=https://www.mminst.org/insight/money-management-institute-announces-winners-2023-mmibarrons-industry-awards |work=Money Management Institute |date=13 Oct 2023 |access-date=25 Aug 2025}}</ref> That same year, The TRADE magazine ranked the firm first in multiple categories in its Outsourced Trading Survey, awarding perfect scores for client service, onboarding, business model, and value for money.<ref name="Trade2023">{{cite news |title=Outsourced Trading Survey 2023 |url=https://www.thetradenews.com |work=The TRADE Magazine |date=Nov 2023 |access-date=25 Aug 2025}}</ref>
In 2024, Russell Investments was recognized in the U.K. and Europe for its factor-based investment expertise, receiving “Factor Investing Offering of the Year” at both the Pensions Age Awards and the European Pensions Awards.<ref name="PensionsAge2024">{{cite news |title=Pensions Age Awards 2024 Winners Announced |url=https://www.pensionsage.com/awards/winners24.php |work=Pensions Age |date=21 Feb 2024 |access-date=25 Aug 2025}}</ref><ref name="EurPensions2024">{{cite news |title=European Pensions Awards 2024 Winners Announced |url=https://www.europeanpensions.net/ep/European-Pensions-Awards-2024-Winners.php |work=European Pensions Awards |date=4 Jul 2024 |access-date=25 Aug 2025}}</ref>
In 2025, the firm was honored in Australia with the Institute of Managed Account Professionals’ (IMAP) Managed Account Award for Responsible Investing.<ref name="IMAP2025">{{cite news |title=IMAP Awards Winners Announced 2025 |url=https://financialnewswire.com.au/funds-management/imap-awards-winners-announced/ |work=Financial Newswire |date=22 Aug 2025 |access-date=25 Aug 2025}}</ref>
===Leadership Recognition=== Russell Investments’ leadership has also been acknowledged by several major financial publications. In 2024, Kate El-Hillow, the firm’s President and Chief Investment Officer, was named one of Pensions & Investments’ Most Influential Women in Institutional Investing.<ref name="P&IInfluential">{{cite news |title=Russell Investments' President and Chief Investment Officer Kate El-Hillow named P&I’s 2024 Class of Most Influential Women |url=https://www.pionline.com/influential-women-institutional-investing/russell-investments-kate-el-hillow-named-pis-2024-class |work=Pensions & Investments |date=2024 |access-date=25 Aug 2025}}</ref> In 2025, American Banker included her among The Most Powerful Women in Finance, recognizing her role in advancing Russell’s multi-asset and institutional-to-retail strategies.<ref name="AmBanker2025">{{cite news |title=The Most Powerful Women in Finance 2025 |url=https://www.americanbanker.com/list/2025-the-most-powerful-women-in-finance |work=American Banker |date=2025 |access-date=25 Aug 2025}}</ref>
==See also== * List of asset management firms
==References== {{Reflist}}
{{Authority control}}
Category:London Stock Exchange Group Category:Investment management companies of the United States Category:Financial services companies established in 1936 Category:Companies based in Seattle Category:1936 establishments in Washington (state) Category:Exchange-traded funds Category:Asset management companies