London Stock Exchange Group plc is looking to sell the investment management business of recently acquired Russell Investments.
The exchange announced today that it has now completed a comprehensive review, which focused principally on assessing the strategic fit of Russell Investment Management with the exchange’s long-term strategy. “After careful consideration the conclusion of the comprehensive review is to explore a sale of this business in its entirety,” it says.
The LSE reports that it has already received a number of expressions of interest in a potential acquisition of Russell Investment Management, and that it will now start the sale process.
In the meantime, the firm says that it will focus on successfully integrating Russell Indexes with its FTSE index business. The LSE completed the acquisition of Russell in December 2014.