Zurich sells its IM business to Russell

Mike Taylor

Managing Editor/Publisher, Financial Newswire

29 January 2026

Major insurer Zurich is selling its investment management business to Russell Investments.

Russell announced today that it has agreed to acquire Zurich Investment Management in a move which will accelerate the growth of its wealth management business in Australia and strengthen its presence across the local adviser market.

The acquisition is expected to add nearly $2 billion in funds under management taking Russell Investments retail and wealth funds under management in Australia to approximately $11 billion.

Zurich Australia and New Zealand chief executive, Justin Delaney said the transition positions the investment management business for its next phase of growth.

“Over many years, Zurich Investment Management has delivered compelling managed fund solutions to Australian investors,” Delaney said.

“The decision to divest ZIM reflects where Zurich is heading as an organisation, allowing us to continue to focus on our core operations in the Australian insurance market. Russell Investments brings global scale, deep investment capabilities and a strong local presence, making it an ideal partner for our advisers, investors, and employees.”

There are no immediate changes to the range of multi-asset, sector and single-strategy funds currently managed by ZIM. Upon completion, ZIM’s distribution, client-facing and retail investment specialists will join Russell Investments Australia. The combined team will extend Russell Investments’ wealth offering and its portfolio management and servicing capabilities to a wider group of advisers.