In a joint statement, Xavier Rolet, chief executive of LSEG, and Len Brennan, president of Russell Investments, said after a comprehensive review the sale of the investment business would be explored.The pair said expressions of interest had already been received and confirmed the asset management business would only be sold in its entirety.“LSEG remains highly focused on management and employee continuity, enabling strong support for growth and innovation across the business and ensuring that Russell’s strong heritage and business values continue to be reflected,” they said.LSEG also said that, while selling the investment arm, it would continue integrating Russell Indexes into the FTSE business.In May last year, LSEG expressed interest in purchasing Russell Investments from then-owner Northwestern Mutual, a US insurance firm, which would only sell Russell Investments as whole.The merging of the FTSE and Russell Indexes would give the UK company a stronger foothold in the US indices market, one currently dominated by rival S&P.However, the asset management, investment consultancy and fiduciary management business never fit in with LSEG’s long-term business strategy.LSEG launched a firm $2.7bn bid in June, announcing an immediate review of the investment business. The London Stock Exchange Group (LSEG) has confirmed its willingness to sell the investment management arm of Russell Investments, after its $2.7bn (€2.4bn) takeover last year.In June, the London indices and stock exchange group launched a formal takeover bid of the company to pair its indices business with that of Russell Investments.LSEG is the parent company to FTSE – the London-based indices firm.However, expectations that it would dispose of the investment management surrounded the takeover and has now been confirmed in a letter to clients.
This penthouse apartment at 701/21 Pixley St, Kangaroo Point, sold for $4.2m.“We saw three times the normal amount of buyers come through those properties than average because of the infrastructure being built in the area,” Mr Bacon said.“The western side of Kangaroo Point is very sought-after — we call it the ‘millionaires’ row’.” This apartment at 505/21 Pixley St, Kangaroo Point, has sold for $2.5m.Selling agents Michael Bacon and Simon Caulfield of Place – Kangaroo Point said buyers had been flocking to buildings like 21 Pixley Street to capitalise on the level of convenience such developments would offer in the coming years. The view from one of the bedrooms in the apartment at 505/21 Pixley St, Kangaroo Point.The property had been due to go to auction on November 29, but was pounced on by a local buyer.More from newsParks and wildlife the new lust-haves post coronavirus15 hours agoNoosa’s best beachfront penthouse is about to hit the market15 hours agoLocal real estate agents say projects such as the Howard Smith Wharves precinct and Queen’s Wharf are “game changers” for the inner city housing market. This apartment at 505/21 Pixley St, Kangaroo Point, has sold.“People purchasing in (Watermark) are spending a couple of hundred thousand to renovate it, but with the knowledge they’ll never be built out, they have a direct riverfront property and, arguably, Brisbane’s best river and city views,” Mr Bacon said.The other two sales in the building this year were the penthouse at 701/21 Pixley St for $4.2 million and a sub-penthouse at 901/21 Pixley St for $4 million. The view of the Brisbane CBD from Kangaroo Point.BRISBANE’S booming infrastructure pipeline is luring buyers to the city fringe, with a Kangaroo Point apartment being snapped up before auction for $150,000 above the reserve price.It is the third sale in the tightly-held Watermark Residences building this year alone, with the four-bedroom unit at 505/21 Pixley Street selling in just five days for $2.5 million.