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.
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London Stock Exchange looks to sell Russell's asset management business
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.
