Wellington Management Company is a private, independent
investment management
Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institut ...
firm with client
assets under management totaling over US$1 trillion based in Boston, Massachusetts, United States.
The firm serves as an
investment advisor
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory ...
to over 2,200 institutions in over 60 countries, as of 30 June 2020. Its clients include central banks and sovereign institutions, pension funds, endowments and foundations, family offices, fund sponsors, insurance companies, financial intermediaries, and wealth managers.
History
In 1928, Philadelphia-based accountant
Walter L. Morgan established the first balanced mutual fund in the United States, the Wellington Fund. Wellington Management Company was incorporated in 1933.
In 1951, the firm hired
John C. Bogle
John Clifton "Jack" Bogle (May 8, 1929 – January 16, 2019) was an American investor, business magnate, and philanthropist. He was the founder and chief executive of The Vanguard Group, and is credited with creating the index fund. An avid inve ...
, who succeeded Morgan as chairman in 1970. In 1967, Wellington merged with Boston-based investment management firm Thorndike, Doran, Paine & Lewis. Bogle left in 1974 and established
The Vanguard Group
The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania, with about $7 trillion in global assets under management, as of January 13, 2021. It is the largest provider of mutual funds and the second-lar ...
, retaining Wellington to manage some of Vanguard's funds.
In 1979, Wellington's 29 original partners bought back the firm after a period as a public company.
In 1994, Wellington offered its first Luxembourg-domiciled
UCITS fund.
Also in 1994, Wellington offered its first hedge fund. Today, the firm manages alternatives assets for clients totaling over US$40 billion and offers over 40 funds.
In 2014, the firm offered its first dedicated private equity strategy.
CEO
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
Brendan Swords held the position since 2014. In September 2020 the firm announced the selection of Jean Hynes as CEO.
The Wellington Management Foundation
The Wellington Management Foundation, a charitable fund with an educational focus, was founded in 1992. Through its annual grant-making program, the Foundation currently supports programs and organizations in nine regions, including Philadelphia, that improve the education and educational opportunities of economically disadvantaged youth. The Wellington Management UK Foundation was established in 2016 to make grants to organizations in the UK and Europe.
Offices
Headquartered in Boston, the company has an office in Radnor, PA, and opened offices in London in 1983; Singapore in 1996; San Francisco, Sydney, and Tokyo in 1997, Hong Kong in 2003; Chicago in 2004; Beijing in 2007; Frankfurt in 2011; Zürich and Luxembourg in 2014; Toronto in 2018; Shanghai in 2020 and Milan in 2021;.
Awards and recognition
In 2018, Wellington's Global Director of Diversity and Inclusion, Shawna Ferguson, won the Northeast Human Resources Association Individual Diversity Champion of the Year Award. The firm's Private Equity Investor, Matt Witheiler, was also named to the 2018 Midas Brink List. Wellington ranked #9 in Institutional Investor's 2017 annual ranking of AUM of top money managers headquartered in the US. In 2016 it ranked #1 asset manager by brand awareness scores by survey. Also in 2016,
Citywire
Citywire is a London-based financial publishing and information group.
It provides news, information and insight for professional advisers and investors globally. The company specialises in tracking the performance of fund managers.
Citywir ...
ranked Jean Hynes one of the top 20 female portfolio managers in the United States. In 2013 and 2014 Wellington's Retirement and Pension plan was named one of the best 401K plans by BrightScope. Wellington Management was named one of the leading
Pan-European
Pan-European can refer to:
* Pan-European identity
* Pan-European corridors
** Pan-European Corridor X
** Pan-European Corridor Xa
* Pan European Game Information
* Pan-European Institute
* Pan-European nationalism
* Pan-European Oil Pipeline
...
fund management firms in the 2014 Thomson Reuters Extel awards. Jean Hynes was listed among
''Barron's'' 100 Most Influential Women in U.S. Finance in March 2020. The firm was awarded the Fixed Income Manager of the Year award for 2020 by
''Environmental Finance''.
References
External links
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{{Hedge funds
Financial services companies established in 1928
Companies based in Boston
Investment management companies of the United States