After acquiring Russell Investments last year, the London Stock Exchange is selling the company's investment management group. This includes' the company's recently acquired UK financial adviser network, On-line Partnership Group Limited (OLPG). OLPG has a network of more than 600 advisers.
The London Stock Exchange said on Thursday that it planned to put the investment management arm of Russell Investments up for sale, a move that was widely anticipated after it bought the owner of the Russell 2000 stock market index last year. In June, the exchange agreed to acquire Russell for $2.7 billion in cash and said it would conduct a “comprehensive review” of the asset management arm following the sale. On Thursday, the London exchange said it had concluded that a sale of the asset management business in its entirety was the best strategy going forward.