Wellington Management Company
|Private limited liability partnership|
|Founded||1928Philadelphia, Pennsylvania, United Statesin|
|Founder||Walter L. Morgan|
|AUM||US$1 trillion (2017)|
Number of employees
The firm serves as investment advisor to over 2,150 institutions in over 60 countries, as of 30 December 2017. Its clients include central banks and sovereign institutions, pension funds, endowments and foundations, family offices, fund sponsors, insurance companies, financial intermediaries, and wealth managers.
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, 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, retaining Wellington to manage some of Vanguard's funds.
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.
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 9 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.
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; Zurich and Luxembourg in 2014; and Toronto in 2018.
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 eVestment survey. Also in 2016, Citywire 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 fund management firms in the 2014 Thomson Reuters Extel awards.
Insider trading probe
On November 23, 2010, Wellington Management Company turned over documents solicited by U.S. federal investigators regarding an alleged case of insider trading. Wellington directors delivered the unspecified documents to investigators. On December 3, 2010 the company issued a statement that the firm had been told it was not a target in the insider trading probe, nor had it been accused of any wrongdoing.
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- USA, Frank Talbot, head of investment research, Citywire (2016-12-06). "Ranking America's top 20 female portfolio managers". CNBC. Retrieved 2018-04-17.
- "BrightScope Top 30 401k Plans of 2014 - BrightScope Blog". blog.brightscope.com. Retrieved 2018-04-17.
- "Thomson Reuters Announces 2014 Extel Survey Results". Retrieved 2018-04-17.
- Wee, Gillian (November 23, 2010), "Wellington Said to Get Document Request From U.S. in Insider-Trading Probe", Bloomberg
- Toonkel, Jessica. "Wellington: Firm isn't target of insider trading probe". www.investmentnews.com. Retrieved 2018-04-09.