LONDON – The London Stock Exchange Group has announced plans to purchase financial services firm Frank Russell Company for $2.7 billion.
The LSE group said Thursday the purchase would provide “a high quality U.S. business” with index and investment management services as part of a diversification strategy.
LSE Chief Executive Xavier Rolet said the acquisition would boost the group’s presence in the U.S. financial services market.
He added the company comes with “a world-class client and employee base.”
It will buy the company from Northwestern Mutual and minority stockholders.