During my 9.5 years there, we went through 4 CEOs - and subsequently not long after I resigned, the firm was sold by Northwestern Mutual to the London Stock Exchange. The turnover at the top - coupled with the Global Recession - made for some very uneasy and turbulent years that lacked direction and leadership - particularly under Andrew Doman who, fortunately, was forced out. Also, Russell is often hesitant to fire people who are continually underperforming, which not only impedes business growth - but it also de-motivates others in the business unit.
Most importantly, the Russell culture that attracted many to the firm in the first place has greatly changed over the years - and not for the better. What used to have a family business feel with a great entrepreneurial spirit that rewarded innovation and competence gradually dissipated little by little every year since George Russell was no longer a part of the firm. The firm still has some great people and great potential, and I hope that the sale to LSE is a good thing for the business going forward.
