 | |
| Industry | Financial services |
|---|---|
| Founded | 1936; 90 years ago (1936) inTacoma, Washington, U.S. |
| Founder | Frank Russell |
| Headquarters | Russell Investments Center,, U.S. |
Key people | Zach Buchwald (CEO,chairman)[1] |
| AUM | $327.5 billion (9/30/2024)[2] |
Number of employees | 1,350 (2019) |
| Website | russellinvestments |
Russell Investments Group LLC is an American investment firm headquartered inSeattle, Washington.
According toAmerican Banker, Russell Investments has approximately $300 billion ofassets under management, as of September 2019.[3] The firm ranks as the third largest outsourced CIO (OCIO) provider globally.[4] Additionally, the company has $2.6 trillion under advisement across 32 countries, making Russell Investments the world's fourth-largest adviser.[3] The company has aninvestment outsourcing division to assist clients withinvestment and retirementportfolios, among other services. Clients have includedAT&T,Boeing, andUnion Pacific Railroad.[5]
Russell Investments had approximately 1,350 employees, as of late 2019.[6] The majority are based inSeattle, while others work at offices inLondon,New York City,Sydney,Tokyo, andToronto, among other cities.[7][8][9]
Founded by Frank Russell in 1936 inTacoma, Washington,[10][11] Russell Investments began as astockbroker andconsultant, and later created theRussell 2000 Index, one of the most followedstock market indices in the U.S.[12] His grandson, George Russell, has been credited with expanding the company and pioneering the business of pension consulting when he securedJ. C. Penney as the first pension client.[10]
Northwestern Mutual acquired Russell Investments during 1998–1999 for $1.2 billion.[10][11][13] The company's headquarters were relocated to Seattle in 2010.[11][14]
In 2014,London Stock Exchange Group (LSEG) acquired the firm for $2.7 billion.[12][13] Russell Investments had approximately $256 billion in assets under management at the time.[13] LSEG separated theRussell 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.[12][15] LSEG announced theFTSE Russell brand in May 2015.[16]
During 2015–2016, the company was valued at $1.15 billion and purchased byTA Associates, aBoston-basedprivate equity firm, from LSEG.[7][17] TA hiredGoldman Sachs in 2019 to assess Russell Investments' possible sale.[5]
George Russell served aschairman until 2002.[10] Craig Ueland was promoted fromchief operating officer topresident in 2003. He succeeded Mike Phillips, who also served aschairman, aschief executive officer (CEO) in 2004. Ueland was CEO until 2008, whenNorthwestern Mutual's John Schlifske was named president and CEO.[18] Andrew S. Doman began serving as CEO starting in early 2009,[19] and he was succeeded by Len Brennan in 2011.[12][20]Michelle Seitz became the company's first female CEO,[6] and seventh overall, in September 2017. Four months later, she became the chairman as well, serving in both roles until September of 2022.[21] In February 2023, it was announced that Zach Buchwald, then head of BlackRock's institutional business, would join Russell Investments as CEO.[22] Kate El Hillow has served as President and Chief Investment Officer since 2022.[23]
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.[24] 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.[25]
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.[26][27]
In 2025, the firm was honored in Australia with the Institute of Managed Account Professionals’ (IMAP) Managed Account Award for Responsible Investing.[28]
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.[29] 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.[30]
