“Just like advisors spend a lot of timethinking about succession planningand how they want to go about it, I’vebeen thinking about that same journey myself over the past year, and thismeant finding the right leader to takeHearsay into its next chapter,” Shih toldInvestment Advisor.
“In the past six months, the stars have
really aligned with our product utiliza-
tion surging because of the pandemic,”
she added. “Within a few months of
Mike starting at Hearsay, he’s aligned
our teams, I’ve witnessed how he leads
in the midst of a global health crisis, …
and that’s given me the clarity and confi-
dence to know that he’s the right person
for the job.”
Boese has some 25 years of leadership
experience at software firms like SAP,
PeopleSoft and Oracle. Most recently, he
was co-founder and CEO of Plantt and
CEO of Certent, a fintech software-as-a-
The news of the firm’s change in
leadership comes about a month
after the Hearsay for Salesforce tool
became available on the Salesforce
AppExchange and Hearsay received a
minority investment from Salesforce
With 220 employees, Hearsay works
with some 120 clients, and its technol-
ogy is used by about 170,000 advisors
“Clara orchestrated this succession
plan over an extended period of time,
and now she’s also going to continue to
stay very close to the company in the
next phase,” Boese said in an interview.
For Shih, “It’s time to honor my
For instance, she’s involved with GirlsInc., and is a mentor. And she just signedup to be the kindergarten room parent ather child’s school. “It’s the first time I’vebeen so involved in a San Francisco BayArea school.”
Jean Hynes Named Next Wellington CEO
Jean Hynes has been named the nextCEO of Wellington Management, oneof the largest independent investmentfirms in the world with more than $1trillion in assets under management.She will take over from Brendan Swordswhen he retires on June 30, 2021.
After assuming her new role, Hynes isset to continue leading the $49.7 billionVanguard Health Care Fund, which shehas managed since 2008.
Wellington is Vanguard’s largest andlongest tenured external manager. Itworks on about 20 of the fund giant’sportfolios and some $395 billion in client assets under management.
HYNES’ CAREER PATH
Currently a managing partner of thefirm, Haynes joined Wellington in 1991after graduating from Wellesley Collegewith a B.A. in economics.
At Wellington, she has focused onthe pharmaceutical and biotechnologyindustries, and has served as a healthcare portfolio manager and leader of thehealth care sector research team. Since2014, she has been one the firm’s threemanaging partners alongside Swords.
In a statement, Hynes said, “I have
had the privilege of learning alongside
Brendan for many years, and I am look-
ing 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 Investment
Advisor: “Jean Hynes is an extraordinary
investor and leader. We are confident
that Jean will build on Wellington’s
legacy of delivering superior outcomes
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, opti-
mism, and fortitude to lead Wellington
in the years ahead,” according to a
Wellington, based in Boston, is a private partnership with more than 800employees and 2,200 clients in 60 countries. John Bogle was chairman of thefirm from 1970 to 1974, when he left tostart Vanguard to handle the administrative functions of Wellington’s funds.
For instance, Wellington managesthe Vanguard Wellington InvestmentFund [VWELX], which was startedin 1929; it now has assets of $107.5billion and a five-star rating fromMorningstar.
Janet Levaux is editor-in-chief of InvestmentAdvisor. She can be reached at firstname.lastname@example.org.
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Investment Advisor. She can be reached email@example.com.