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Jean Hynes Named Next Wellington CEO

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Jean Hynes has been named the next CEO of Wellington Management, one of the largest independent investment firms in the world with more than $1 trillion in assets under management. She will take over from Brendan Swords when he retires on June 30, 2021.

After assuming her new role, Hynes is set to continue leading the $49.7 billion Vanguard Health Care Fund, which she has managed since 2008.

Wellington is Vanguard’s largest and longest tenured external manager. It works on about 20 of the fund giant’s portfolios and some $395 billion in client assets under management.

Hynes’ Career Path

Currently a managing partner of the firm, Haynes joined Wellington in 1991 after graduating from Wellesley College with a B.A. in economics.

At Wellington, she has focused on the pharmaceutical and biotechnology industries, and has served as a health care portfolio manager and leader of the health care sector research team. Since 2014, she has been one the firm’s three managing partners alongside Swords.

In a statement, Hynes said, “I have had the privilege of learning alongside Brendan for many years, and I am looking forward to building on our long heritage of helping our clients and their beneficiaries around the world achieve their investment goals.”

Commenting on her appointment, Vanguard CEO Tim Buckley explained in a statement shared with ThinkAdvisor: “Jean Hynes is an extraordinary investor and leader. We are confident that Jean will build on Wellington’s legacy of delivering superior outcomes for investors,”

Swords, who has been CEO since 2014, says he is glad to bring in the “next generation of leaders” and that during Hynes’ 29 years at the firm, she “has demonstrated the vision, optimism, and fortitude to lead Wellington in the years ahead,” according to a press release.

Recognizing Swords’ contributions, Buckley added: “On behalf of the millions of investors who invest in Vanguard funds managed by Wellington, we thank … Swords for his leadership. [He] epitomizes the kind of leadership we need in asset management, respecting and developing talent, nurturing a client-first culture, and focusing on the long-term.”

Vanguard Relationship

Wellington, based in Boston, is a private partnership with more than 800 employees and 2,200 clients in 60 countries. John Bogle was chairman of the firm from 1970 to 1974, when he left to start Vanguard to handle the administrative functions of Wellington’s funds.

Wellington, for instance, manages the Vanguard Wellington Investment Fund [VWELX], which was started in 1929; it now has assets of $107.5 billion and a five-star rating from Morningstar.

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