75 State Street
Boston , MA 02109
Google Maps
Contact
Main Phone: 617-951-5000
Web Site:
http://www.wellington.com/
Mutual Fund Brand(s)
N/A
Research Links
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Background:
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Wellington Management is a giant institutional asset manager that is a big mutual fund subadvisor for fund firms like Vanguard and Hartford.
Wellington's roots go back to 1928, to Walter Morgan (an accountant in Philadelphia) launching a balanced mutual fund (the first in the U.S., according to the Wellington folks). Wellington Management Company launched in 1933.
Vanguard's ties to Wellington actually predate the existence of Vanguard. Jack Bogle joined Wellington in 1955. He spearheaded the firm's expansion in the mutual fund business, and in 1967 he rose to president and led a merger with Boston-based Thorndike, Doran, Paine & Lewis. After the 1974 stock market plunge hit Wellington's funds hard, Bogle was ousted from the firm, but in 1975 he launched Vanguard to take over the Wellington Funds, while hiring Wellington Management to subadvise (a role they continue to play now for several actively managed Vanguard funds).
Meanwhile, after a brief stint as a public company, 29 partners took Wellington Management private again in 1979. The firm remains a private partnership to this day.
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Sponsored Opportunities
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Key People:
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Brendan Swords
Outgoing CEO, Wellington Management | Jean Hynes
Managing Partner, Portfolio Manager, Global Industry Analyst, Incoming CEO, Wellington Management |
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