Misplaced Pages

#581418

22-591: FTSE Russell is a subsidiary of London Stock Exchange Group (LSEG) that produces, maintains, licenses, and markets stock market indices . The division is notable for the FTSE 100 Index in the UK and the Russell 2000 Index in the US, among others. The brand and division FTSE Russell was introduced in 2015, while integrating the indexing services of FTSE index series and Russell index series. In

44-536: 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 2009. In 2014, London Stock Exchange Group (LSEG) acquired

66-688: A 23% stake in the Exchange. The stake grew to 29% as a result of the London exchange's share consolidation. Nasdaq has since sold its investment. In 2007, the Exchange acquired the Milan-based Borsa Italiana for €1.6bn (£1.1bn; US$ 2bn) to form the London Stock Exchange Group plc. The combination was intended to diversify the LSE's product offering and customer base. The all-share deal diluted

88-559: A new purpose-built building and trading floor in Threadneedle Street. Deregulation, sometimes known as " big bang ", came in 1986 and external ownership of member firms was allowed for the first time. In 1995, the Alternative Investment Market was launched and in 2004 the Exchange moved again, this time to Paternoster Square. Between April and May 2006, having been rebuffed in an informal approach, Nasdaq built up

110-606: A takeover, however in Canada the deal was reported as a merger. The provisional name for the combined group would be LTMX Group plc. On 13 June 2011, a rival, and hostile bid from the Maple Group of Canadian interests, was unveiled for the TMX Group. This was a cash and stock bid of CA$ 3.7 billion , launched in the hope of blocking the LSE Group's takeover of TMX. The group was composed of

132-627: Is a global provider of financial markets data and infrastructure. Headquartered in London , England. It owns the London Stock Exchange (on which it is also listed), Refinitiv , LSEG Technology, FTSE Russell , and majority stakes in LCH and Tradeweb . The London Stock Exchange was founded in Sweeting's Alley in London in 1801. It moved to Capel Court the following year. In 1972, the Exchange moved to

154-469: The Toronto Stock Exchange agreed to join forces with the London Stock Exchange Group in a deal described by TMX head Tom Kloet as a 'merger of equals' (though 8/15 board members of the combined entity will be appointed by LSE, 7/15 by TMX). The deal, subject to government approval would create the world's largest exchange operator for mining stocks. In the UK, the LSE Group first announced it as

176-500: The LSE became the 10th stock exchange to join the United Nations' Sustainable Stock Exchanges (SSE) initiative . On 26 June 2014, the LSE announced it had agreed to buy Frank Russell Co. , making it one of the largest providers of index services. In January 2015, Reuters reported that the London Stock Exchange Group planned to put Russell Investments up for sale, and estimates the sale will produce $ 1.4 billion. In March 2016,

198-572: The company agreed to buy Refinitiv in an all-share transaction valuing the target at $ 27 billion. Shortly thereafter, on 11 September 2019, LSEG itself became the target of a £32 billion bid by the Hong Kong Exchanges and Clearing , subject to abandoning its plans to buy Refinitiv. LSEG rejected the takeover bid two days later. In order to secure the Refinitiv deal, in July 2020, LSEG announced that it

220-554: The company announced it had reached an agreement with Deutsche Börse to merge. The companies would have been brought under a new holding company, UK TopCo, and would retain both headquarters in London and Frankfurt. On 25 February 2017, the London Stock Exchange Group PLC stated it would not sell its fixed-income trading platform in Italy to Deutsche Börse AG, to appease anti-trust concerns. The planned merger between

242-448: 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. George Russell served as chairman until 2002. 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

SECTION 10

#1732868682582

264-490: The end of August 2023. The positions of chairman and Chief Executive of the London Stock Exchange Group were founded in 2007, upon the establishment of the Group. This is not to be confused with the chairmen and Chief Executive's of the London Stock Exchange plc , which is a subsidiary of the Group. The current Chief Executive is former Goldman Sachs banker David Schwimmer , who was appointed in 2018, replacing Xavier Rolet , who

286-560: The firm for $ 2.7 billion. Russell Investments had approximately $ 256 billion in assets under management at the time. 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. LSEG announced the FTSE Russell brand in May 2015. During 2015–2016,

308-472: The leading banks and financial institutions of Canada. The London Stock Exchange however announced it was terminating the merger with TMX on 29 June 2011 citing that "LSEG and TMX Group believe that the merger is highly unlikely to achieve the required two-thirds majority approval at the TMX Group shareholder meeting". In July 2012, the LSE bought a 5% stake in Delhi Stock Exchange. On 2 June 2014,

330-435: The most liquid order book by value and volume traded. Its activities include: Russell Investments 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

352-667: The same year, LSEG sold Frank Russell Company 's asset management division Russell Investments . Also in 2015, FTSE Russell acquired the corporate data company Mergent. In December 2020, FTSE Russell announced that it would strip its indexes of eight Chinese companies in response to U.S. Executive Order 13959 . On 2 March 2022, in response to the invasion of Ukraine by the Russian Federation and resultant sanctions, FTSE Russell removed all Russian securities from all FTSE Russell indexes. London Stock Exchange Group London Stock Exchange Group plc , also known as LSEG,

374-449: The stakes of existing LSE shareholders, with Borsa Italiana shareholders receiving new shares representing 28 per cent of the enlarged register. On 16 September 2009, the London Stock Exchange Group agreed to acquire Millennium Information Technologies, Ltd., a Sri Lankan-based software company specialising in trading systems, for US$ 30m (£18m). The acquisition was completed on 19 October 2009. On 9 February 2011, TMX Group , operator of

396-519: The two exchanges, which was estimated to create the largest exchange in Europe, was subsequently described as "at risk" by the Wall Street Journal . The merger attempt was blocked by EU Competition Regulator on 29 March 2017 stating that "The Commission's investigation concluded the merger would have created a de facto monopoly in the markets for clearing fixed income instruments". In August 2019,

418-667: 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. Founded by Frank Russell in 1936 in Tacoma, Washington , Russell Investments began as

440-472: Was CEO until 2008, when Northwestern Mutual 's John Schlifske was named president and CEO. 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, and seventh overall, in September 2017. Four months later, she became the chairman as well, serving in both roles until September of 2022. In February 2023, it

462-553: Was considering selling its Italian assets including MTS, Italian bond trading venue and potentially Borsa Italiana. On 18 September 2020, LSEG entered into exclusive talks to sell the Italian Bourse to Euronext . The acquisition was announced on 9 October of that same year and was completed on 29 April 2021. In August 2023, LSEG said it intends to retire the Refinitiv name across the group, starting with market-data terminal Refinitiv Workspace, which will become LSEG Workspace from

SECTION 20

#1732868682582

484-522: Was ousted in November 2017. Schwimmer's most recent role at Goldman Sachs was serving as "global head of market structure and global head of metals and mining in investment banking". Principal subsidiaries areas follows: incorporation votes held Following the merger with Borsa Italiana, the group is Europe's leading equities business, with 48% of the FTSEurofirst 100 by market capitalisation and with

#581418