Wellington Management Company
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Wellington Management Company is a Boston, Massachusetts based investment management firm.
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[edit] Founding and Early Years
Wellington Management Company was incorporated in Philadelphia, Pennsylvania in 1933, five years after the creation of the Wellington Fund by Walter L. Morgan.
In 1958 the firm launched the Wellington Equity Fund. The Wellington Equity Fund which was renamed the Windsor Fund in 1963. In 1964 John B. Neff was named manager of the Windsor Fund.
[edit] Merger with TDP&L
In 1966 the firm merged with Thorndike, Doran, Paine and Lewis, a Boston based investment counseling firm best known for its management of the Ivest Fund.
The Explorer Fund was introduced in 1967 and the W. L. Morgan Growth Fund in 1968.
[edit] Birth of Vanguard and Conversion to Private Partnership
In 1974 the firm fired its then president and CEO John C. Bogle. Bogle subsequently founded the Vanguard Group, which became responsible for the administration of most of the Wellington mutual funds, but not of the management.
In 1979 the firm was acquired by its management and converted to a private partnership.
[edit] The Firm Today
Wellington Management continues to manage the Wellington Fund and various of other mutual funds for Vanguard. The firm also manages money for other mutual fund administrators and for private and public institutions.
Wellington Management opened its first international office in London in 1983. In 2005 the firm reported assets under management in excess of US $500 billion, making it among the largest privately held investment management firms.
The company is headquartered in downtown Boston, but also has offices in Atlanta, Chicago, Radnor and San Francisco within the United States. Internationally, it has a presence in London, Tokyo, Singapore, Sydney and Hong Kong. However, most of the investment decisions are made at the Boston office.
The current CEO is Perry Traquina.
Wellington reported assets under management of over $575bn as at 31 December 2006 (see company website).
[edit] External links
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