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Our history
A history of growth and innovation
1936 — Local businessman Frank Russell starts a small brokerage firm in Tacoma, Washington.
1958 — George Russell joins his grandfather's firm, Frank Russell Company. Six months later, George becomes chairman, president and CEO when his grandfather dies. At this point, the company has two employees—George and an assistant.
1969 — George is a pioneer in a new industry—strategic pension fund consulting— when he demonstrates his money manager evaluation process during a sales call to J.C. Penney and secures the giant U.S. retailer as his first client. Forty years later, J.C. Penney remains a client.
Fueled by George's new idea, Russell begins managing money managers, instead of managing money, and opens a New York office to expand the concept nationally. George also launches a data business based on performance measurement information and a securities trading business for the company's institutional investors.
1974 — Russell's institutional consulting business grows from a single client to 40 major U.S. clients.
1979 — Russell initiates its global presence with the opening of a London office.
1980-81 — Russell launches its investment management business in response to a client's request for funds that provide a fully diversified and packaged blend of investment managers. George creates two investment management subsidiaries, (Frank Russell Trust Company in 1980 and Frank Russell Investment Management Company in 1981), and Russell begins leveraging its research of outside managers to create a manager-of-managers investment process for smaller retirement plans and individuals.
1984 — Russell researchers create the Russell 1000®, Russell 2000®, and Russell 3000® Indexes as objective benchmarks for evaluating manager performance.
Russell introduces its presence in Canada with the opening of an office in Toronto, Ontario.
1986 — Russell opens offices in Tokyo, Japan and Sydney, Australia.
1988 — Russell dedicates its new world headquarters — custom-designed by George and Jane Russell — in Tacoma, Washington. Designed to reflect both the urban and natural environments, the 12-story granite building is deliberately oriented on the property so that every floor has direct views of Mount Rainier.
1989 — Frank Russell Securities trading volume hits 1 percent of the total NYSE volume, trading over 1 million shares a day.
1990 — Mike Phillips is the first new president of Frank Russell Company in 32 years; and in 1993, he is named chief executive officer. George Russell continues as chairman.
George Russell establishes Russell 20-20, a group of independent money managers and plan sponsors who explore emerging markets with an eye toward investment opportunities.
1991 — Frank Russell Company and Tokyo-based Yasuda Fire & Marine Co., Ltd, one of Japan's largest insurance companies, develop the first practical financial modeling tool utilizing sophisticated forecasting and analytical techniques. The Russell-Yasuda Kasai model is awarded a Franz Edelman award in 1993 by The Institute of Management Sciences.
1992 — Russell launches four multi-manager, multi-style funds for individual investors throughout Canada.
Russell assets under management hit US$5 billion.
1997 — Russell's consulting business surpasses US$1 trillion in represented assets.
1999 — Russell's global office network—which already includes the United Kingdom, France, Canada, Japan, Australia and New Zealand—expands to Singapore.
Northwestern Mutual, a large provider of individual life insurance in the U.S., acquires Russell. The company retains its name, management, office locations and investment approach.
Russell receives honors as number 15 on Fortune magazine's "100 Best Companies to Work for in America" list.
2000 — George and Jane Russell are awarded honorary doctorates from Pacific Lutheran University.
Russell is ranked 13th on Fortune magazine's "100 Best Companies to Work for in America" list.
2001 — For the second consecutive year, Russell ranks 13th on Fortune magazine's "100 Best Companies to Work for in America" list.
The inaugural Heart and Soul Award for Service to Community, given annually to a Russell associate who emulates commitment, dedication and support to the lives of others, is presented to Jane Thompson Russell in November.
2002 — Serving as chairman since 1958, George Russell retires, retaining the role of chairman emeritus for Frank Russell Company and Russell 20-20.
Russell ranks 11th on Fortune magazine's "100 Best Companies to Work for in America" list, holding a position in the top 15 for four consecutive years. Russell also receives the National Family Business of the Year award (1997), and the Best Company to Work For—Hall of Fame award (1999, 2000) from Washington CEO magazine.
2003 — Russell changes its business name to Russell Investment Group to better reflect its wide range of investment solutions.
Craig Ueland is appointed president of Russell in July 2003 and then CEO effective January 2004.
2004 — Russell hits US$100 billion in assets under management (AUM). By the end of 2004, AUM rises to US$134 billion.
Russell acquires the Australian HR services operation of Towers Perrin in August—a strategic move that adds more than 270 Russell associates and enables Russell to offer an unmatched array of investment and administrative services.
Russell's manager research capability was rated highest by money managers in a Global Pensions magazine survey, and the 2004 Cerulli™ Report named Russell the global leader in multi-manager investing in terms of market share.
2005 — Russell earns the 2005 "Multi-Manager of The Year" award from Financial News, citing Russell's growing European business and the depth and quality of Russell's EMEA funds.
Russell's AUM hits US$155 billion by year end, and its consulting business tops US$2.3 trillion in represented assets.
Russell's Toronto office is named in "Canada's Top 100 Employers" for the fourth straight year.
Chairman Emeritus George Russell composes two books honoring the memory of his late wife Jane T. Russell, who passed away in May 2002—one entitled "Jane Russell's Way" and the other a collection of letters and tributes, many of which were written by Russell associates.
2006 — Russell and IBM join forces in Australia to create a superannuation administration alliance.
For the fifth time since 1999, Russell is ranked in the top 100 in Fortune magazine's "Best Companies to Work For in America."
Russell indexes surpass US$3.8 trillion in benchmarked assets.
The Russell SuperSolution master trust is awarded the 5 Apples rating in both the Large Plan and Medium Plan categories as a result of Chant West's 2006 review of wholesale funds in Australia.
2007 — Russell's market-leading family of U.S. equity indexes goes global with the launch of a fully-integrated family of global stock indexes. The Russell Global Indexes provide investors worldwide with a comprehensive set of benchmarks that cover small-cap, large-cap and all-cap companies in developed and emerging markets.
Russell is proud to be ranked number 30 on Fortune magazine's "100 Best Companies to Work For in America" list. Additionally, Maclean's magazine names Russell one of Canada's Top 100 Employers for 2007. Combined, Russell has been awarded these honors every year the company has applied, both in the U.S. and Canada.
Russell opens an office in Seoul, Korea.
2008 — Russell is again named to Fortune magazine's "100 Best Companies to Work For in America" list, ranking 65th. Russell has ranked on the list seven times since 1999.
2009 — Russell names Andrew S. Doman president and CEO.
Russell introduces liability-responsive asset allocation – a dynamic approach to strategic asset allocation that ties pension fund investing policy to changes in liabilities and a plan's funded status.
Russell and Jadwa Investment (Jadwa) sign an agreement to launch a new Shariah compliant offering, the Russell-Jadwa Sharia Index family. Screened from the approximately 10,000 securities in the Russell global Index universe, the Russell-Jadwa
Index offers investors an accurate and complete global-equity market index that reflects established Shariah investment guidelines.
Russell becomes a United Nations' Principles for Responsible Investment (UN PRI) signatory, reinforcing the company's commitment to environmental, social and corporate governance (ESG) concerns. As part of its commitments in becoming a signatory, Russell forms the Russell Sustainability Council to oversee efforts to incorporate ESG considerations into manager research and product development while promoting the UN PRI and other socially responsible initiatives within the investment industry.
2010 — Russell extends its Enhanced Asset Allocation (EAA) capability to the retail market, providing advisors with the ability to offer individual investors an opportunity to take advantage of market dislocations. Russell EAA is a suite of services that seeks
to identify significant unsustainable movements in the market and then outline a path for investors to potentially increase investment returns while managing for risk and liquidity.
Russell opens new headquarters office in Seattle, Washington.
2011 — Russell names Len Brennan president and CEO as well as chief executive of EMEA.
CORP-6098
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