1960s
Bogle offered the four iVest partners 40% of the equity in Wellington's management company in the merger.
“that he ends up offering 40% of the equity in the management company to the four partners coming in from iVest.”
Topic
Wellington Management Company
5 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1965
In 1965 Walter Morgan retired and named 35-year-old Jack Bogle president of Wellington Management.
“And then ultimately in 1965, Morgan retires, steps back, and names Jack president of the firm at 35 years old.”
1973
By 1973 the Wellington fund's assets had fallen from $2 billion at the time of the iVest merger to $480 million.
“By 1973, the assets of the Wellington fund have fallen all the way from $2 billion at the time of the merger down to $480 million.”
1974
On January 23, 1974, the four iVest partners won enough votes from public shareholders to fire Jack Bogle as CEO of Wellington Management Company.
“on January 23rd, 1974, at the Wellington Management Company board meeting, the four I-Vest partners band together, rally enough votes from the public shareholders, and they fire Jack as CEO of Wellington Management Company.”
2026
The hosts say Wellington Management, which still manages the Wellington Fund inside Vanguard, oversees about $1.3 trillion in assets.
“Wellington manages about $1.3 trillion in assets today.”
Episodes