Wellington Management has announced that chief executive officer Brendan Swords is to retire from the firm next year, to be succeeded by Jean Hynes.
Swords, who has been with the firm for nearly 30 years, is set to retire from Wellington on 30 June 2021 and will be replaced by fellow managing partner Hynes.
Hynes, who has also been at the company for nearly 30 years, has spent time as analyst researching the pharmaceutical and biotechnology industries, as well as a healthcare portfolio manager and leader of the healthcare sector research team.
Since 2014, she has served as one of three managing partners, alongside outgoing CEO Swords.
Swords said: "One of the most enduring lessons of the Wellington partnership is the notion of stewardship, bringing along the next generation of leaders to allow us to better serve clients.
"I am excited that Jean Hynes will be my successor. Over the course of her nearly 30 years at the firm, she has demonstrated the vision, optimism, and fortitude to lead Wellington in the years ahead.
"Her extensive investment and leadership experience align with our mission of delivering investment excellence to our clients."
Hynes added: "I am humbled and honoured to serve as the next CEO of Wellington Management. 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."