Russell Investments

Corporate overview

According to American Banker, Russell Investments has approximately $300 billion of assets under management, as of September 2019. The firm ranks as the third largest outsourced CIO (OCIO) provider globally. Additionally, the company has $2.6 trillion under advisement across 32 countries, making Russell Investments the world's fourth-largest adviser. 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.

Russell Investments had approximately 1,350 employees, as of late 2019. The majority are based in Seattle, while others work at offices in London, New York City, Sydney, Tokyo, and Toronto, among other cities.

History

Founded by Frank Russell in 1936 in Tacoma, Washington, 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. 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.

Northwestern Mutual acquired Russell Investments during 1998–1999 for $1.2 billion. The company's headquarters were relocated to Seattle in 2010.

In 2014, London Stock Exchange Group (LSEG) acquired the firm for $2.7 billion. LSEG announced the FTSE Russell brand in May 2015.

During 2015–2016, the company was valued at $1.15 billion and purchased by TA Associates, a Boston-based private equity firm, from LSEG. TA hired Goldman Sachs in 2019 to assess Russell Investments' possible sale.

Leadership

George Russell served as chairman until 2002. Andrew S. Doman began serving as CEO starting in early 2009, and he was succeeded by Len Brennan in 2011. Michelle Seitz became the company's first female CEO, In February 2023, it was announced that Zach Buchwald, then head of BlackRock's institutional business, would join Russell Investments as CEO. Kate El Hillow has served as President and Chief Investment Officer since 2022.

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. 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.

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.

In 2025, the firm was honored in Australia with the Institute of Managed Account Professionals’ (IMAP) Managed Account Award for Responsible Investing.

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. 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.

References

References

1. McElhaney, Alicia. (February 8, 2023). "Russell Investments Taps BlackRock Exec for New CEO". [[Institutional Investor (magazine).
2. "Rusell Investments on LinkedIn".
3. (2019-09-23). "Most Powerful Women in Finance: No. 18, Russell Investments' Michelle Seitz".
4. (2020-06-29). "OCIO growth assisted by volatile times".
5. (November 18, 2019). "Asset manager Russell Investments put up for sale". [[Financial Times]].
6. (November 27, 2019). "Russell Investments' first female CEO reflects on 'rarity and responsibility' of her position". [[American City Business Journals]].
7. (October 8, 2015). "Russell Investments' asset-management arm sold for $1.15 billion". [[The Seattle Times]].
8. (December 12, 2017). "Russell's new chief says it's time to get 'personal'". [[Financial Times]].
9. (January 5, 2020). "Asset management in an age of long life expectancy". [[The Japan Times]].
10. (June 7, 2009). "Tacoma vs. Seattle: fight over Russell Investments worth millions". The Seattle Times.
11. (September 9, 2009). "Russell Investments moving to Seattle". [[Tacoma Daily Index]].
12. (November 19, 2019). "Russell Investments put up for sale by TA Associates — report". [[Financial News]].
13. (December 4, 2014). "Northwestern Mutual completes sale of formerly Tacoma-based Russell Investments". [[The News Tribune]].
14. (September 9, 2009). "Russell Investments will leave Tacoma for Seattle". [[The Herald (Everett).
15. (October 8, 2015). "TA Associates to Buy Russell Investments for $1.15 Billion". [[The New York Times]].
16. (April 27, 2018). "Research Handbook of Finance and Sustainability". Edward Elgar Publishing.
17. (November 20, 2019). "Russell Investments is looking for a buyer". [[Axios (website).
18. (October 2010). "Andrew S. Doman". Seattle Business.
19. (September 22, 2019). "Most Powerful Women in Finance: No. 18, Russell Investments' Michelle Seitz". [[American Banker]].
20. (8 February 2023). "Russell Investments Taps BlackRock Exec for New CEO".
21. (2022-04-19). "Russell Investments appoints Kate El-Hillow as President and Chief Investment Officer". Pensions & Investments.
22. (13 Oct 2023). "Money Management Institute Announces Winners for 2023 MMI/Barron’s Industry Awards". Money Management Institute.
23. (Nov 2023). "Outsourced Trading Survey 2023". The TRADE Magazine.
24. (21 Feb 2024). "Pensions Age Awards 2024 Winners Announced". Pensions Age.
25. (4 Jul 2024). "European Pensions Awards 2024 Winners Announced". European Pensions Awards.
26. (22 Aug 2025). "IMAP Awards Winners Announced 2025". Financial Newswire.
27. (2024). "Russell Investments' President and Chief Investment Officer Kate El-Hillow named P&I’s 2024 Class of Most Influential Women". Pensions & Investments.
28. (2025). "The Most Powerful Women in Finance 2025". American Banker.