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Insurer sells Seattle subsidiary | Northwestern Mutual benefited from early stake

Dec 04, 2014 - Milwaukee Journal Sentinel (Wisconsin)

Northwestern Mutual Life Insurance Co. said Wednesday it had completed the sale of its Seattle subsidiary, Frank Russell Co., to the London Stock Exchange Group for $2.7 billion.

The Milwaukee-based insurer acquired the asset management company, also known as Russell Investments, in 1999 for $1.2 billion. "Russell has been a good investment for us," John Schlifske, chairman and chief executive of Northwestern Mutual, said in a statement. "Russell's operating results have made significant ...