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Historical Context

In 1928, Philadelphia-based accountant Walter L. Morgan established the first balanced mutual fund in the United States, the Wellington Fund. The 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.

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

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.

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

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 and New York in 2023.

Vignette

The vignette features Arthur Wellesley, the first Duke of Wellington.

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