Wellington Management Co L.L.P. at a Glance

The Buzz

  • "Well respected, old school"
  • "Professional, demanding"
  • "Fantastic in fixed income"
  • "Second tier"

About Wellington Management Co L.L.P.

Greater Boston management

The first balanced mutual fund in the U.S., the Wellington Fund, was created in 1928.  Five years later, Wellington Management Company was incorporated.  The young firm survived the Great Depression and went public in 1960.  In 1967, the Boston-based Wellington merged with a fellow Beantown company, an investment consulting firm named Thorndike, Doran, Paine and Lewis.  Wellington reverted to private status in 1979, and today is classified as a Massachusetts private limited liability partnership.

As of June 2009, Wellington had more than $448 billion in assets under management, representing institutional clients and mutual fund sponsors in more than 40 countries. Wellington manages domestic, international and global equity, fixed income, currency, commodities, real assets and active asset allocation portfolios. It also places special emphasis on its research departments, which work in tandem with portfolio managers to provide market insight and analysis.  In addition to its headquarters in Boston, Wellington operates offices in Chicago, San Francisco, Atlanta and Radnor, Pennsylvania.  It also has international offices in London, Tokyo, Sydney, Singapore, Hong Kong and Beijing.

Bright and early

Wellington expects its employees to be ready and creative upon arrival, so employees who expect to spend the early hours cruising the Internet and guzzling coffee will be highly disappointed.  In 1958, Wellington began its tradition of a daily morning meeting attended by all 100+ financial employees in the Boston office. Every day portfolio managers, researchers and representatives from senior management teams gather in the early hours to discuss projects and share information.  Wellington says this routine has become a significant part of the firm's culture, teamwork in action.  While most financial services employees swap ideas casually over lunch or at their cubicles, Wellington's theory is that formalizing the process yields greater results.

Don't walk into Wellington with the idea that research is somehow less glamorous than portfolio management.  According to the firm, its independent research is "the cornerstone of everything" it does.  Wellington strives to develop, and keep, its expert researchers and analysts, building their career paths within the firm.  The company's collaborative mindset extends to research departments, where analysts often collaborate across asset classes and investment disciplines, and participate in discussions with each other and with portfolio managers.

In the Vanguard

Called by some as "the brains behind the funds," Wellington picks stocks and other investments for famous mutual funds like Vanguard, ING, John Hancock and Hartford. The world's largest sub-advisor of mutual fund portfolios, Wellington is responsible for 15 Vanguard funds, that's more than $100 billion in assets.

Thanks to its own purchasing power, Wellington has quietly become a shareholder to be reckoned with in some of America's biggest companies.  For example, Wellington was the majority shareholder in the natural foods chain Wild Oats Markets (before it was acquired by rival Whole Foods) and is the biggest investor in the Hain Food Group (which includes well-known natural brands like Celestial Seasonings, Arrowhead Mills, Yves Veggie Cuisine and Bearitos).  In August 2006, it doubled its holdings of medical equipment giant Boston Scientific, reaching a 5.3 percent stake in the company.  In total, according to the firm, its ownership stakes include two million securities in 75 countries around the world.

Oily situation

It would seem that it's a good thing that Wellington Management is a large stockholder in one of the most fiscally successful companies in the country, until one discovers that the company is a controversial political figure.  Wellington is Halliburton's second-largest shareholder, with more than 23 million shares of its stock.  Though the partnership hasn't exactly caused a nationwide outrage, there are a small number of web sites (such as halliburtonwatch.org) and organizations that protest any company's involvement with Dick Cheney's former empire as an ethical response to the windfall profit that Halliburton received through contracts in Iraq.

Wellington Management Co L.L.P.

75 State Street
Boston, MA 02109
Phone: (617) 951-5000


  • Employer Type: Private
  • President and CEO: Perry Traquina
  • 2006 Employees: 1,800

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