Wellington Management Company

Wellington Management Company is a private, independent investment management firm with client assets under management totaling over US$1 trillion based in Boston, Massachusetts, United States.

The firm serves as an investment advisor to over 2,200 institutions[2] in over 60 countries, as of 30 June 2020.[3] Its clients include central banks and sovereign institutions, pension funds, endowments and foundations, family offices, fund sponsors, insurance companies, financial intermediaries, and wealth managers.[4]

History

In 1928, Philadelphia-based accountant Walter L. Morgan established the first balanced mutual fund in the United States, the Wellington Fund.[5] Wellington Management Company was incorporated in 1933.

In 1951, the firm hired John C. Bogle, who succeeded Morgan as chairman in 1970. In 1967, Wellington merged with Boston-based investment management firm Thorndike, Doran, Paine & Lewis.[6] Bogle left in 1974 and established The Vanguard Group, retaining Wellington to manage some of Vanguard's funds.[7]

In 1979, Wellington's 29 original partners bought back the firm after a period as a public company.[8]

In 1994, Wellington offered its first Luxembourg-domiciled UCITS fund.[9]

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.[10]

In 2014, the firm offered its first dedicated private equity strategy.[11]

CEO Brendan Swords held the position since 2014.[12] In September 2020 the firm announced the selection of Jean Hynes as CEO.[13]

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.[14] The Wellington Management UK Foundation was established in 2016 to make grants to organizations in the UK and Europe.[15]

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; Milan in 2021; Madrid in 2022, New York and Dubai in 2023.[16]

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.[17] The firm's Private Equity Investor, Matt Witheiler, was also named to the 2018 Midas Brink List.[18] Wellington ranked #9 in Institutional Investor's 2017 annual ranking of AUM of top money managers headquartered in the US.[19] In 2016 it ranked #1 asset manager by brand awareness scores by survey.[20] Also in 2016, Citywire ranked Jean Hynes one of the top 20 female portfolio managers in the United States.[21] In 2013 and 2014 Wellington's Retirement and Pension plan was named one of the best 401K plans by BrightScope.[22] Wellington Management was named one of the leading Pan-European fund management firms in the 2014 Thomson Reuters Extel awards.[23] Jean Hynes was listed among Barron's 100 Most Influential Women in U.S. Finance in March 2020.[24] The firm was awarded the Fixed Income Manager of the Year award for 2020 by Environmental Finance.[25]

External links