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Russell Investments Bought by London Stock Exchange for $2.7 Billion
Russell may have left Tacoma for Seattle, but they're still on our radar. Now we're seeing reports that Russell Investments has been purchased by the London Stock Exchange Group for $2.7 billion.
The London group, which tracks the 100 top stocks traded in London via its FTSE 100 Index, acquired Russell mainly with an eye on the Russell 2000 Index, to bring a US presence to its portfolio.
In a CNBC interview posted with the New York Times article, Xavier Rolet, CEO of London Stock Exchange, calls it an opportunity to become the number two player in the financial index business. He also calls Russell "a remarkable company."
More changes are on the way for Russell, as the LSE group undertakes a review of its new acquisition.
It is interesting to hear of a once-upon-a-time Tacoma-based company discussed in the same breath as the London FTSE.
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