The Vanguard Group of Investment Companies commenced operations on May 1, 1975. Bogle to form Vanguard in September 1974 to handle the administrative functions of Wellington’s funds, while TDPL/Wellington Management would retain the investment management and distribution duties. Seven years later, a management dispute with the principals of TDPL led Mr. Bogle led the merger of Wellington Management Company with the Boston investment firm Thorndike, Doran, Paine & Lewis (TDPL). Windsor Fund, a value-oriented equity fund, debuted in 1958. Morgan, in the late 1950s, to start an equity fund that would complement Wellington Fund. Bogle became the driving force behind Wellington’s growth into a mutual fund family after he persuaded Mr. Bogle worked in several departments before becoming assistant to the president in 1955, the first in a series of executive positions he would hold at Wellington: 1962, administrative vice president 1965, executive vice president and 1967, president. Morgan hired the ambitious 22-year-old for his Philadelphia-based investment management firm, Wellington Management Company.

Morgan, who had founded Wellington Fund, the nation’s oldest balanced fund, in 1929 and was one of the deans of the mutual fund industry. His senior thesis on mutual funds had caught the eye of fellow Princeton alumnus Walter L. Bogle, a resident of Bryn Mawr, PA, began his career in 1951 after graduating magna cum laude in economics from Princeton University. We are honored to continue his legacy of giving every investor ‘a fair shake.’” “He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. “Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children’s futures,” said Vanguard CEO Tim Buckley. Vanguard, the company he founded to embody his philosophy, is now one of the largest investment management firms in the world. Bogle had legendary status in the American investment community, largely because of two towering achievements: He introduced the first index mutual fund for investors and, in the face of skeptics, stood behind the concept until it gained widespread acceptance and he drove down costs across the mutual fund industry by ceaselessly campaigning in the interests of investors. VALLEY FORGE, PA (January 16, 2019)-Vanguard announces the passing of John Clifton Bogle, founder of The Vanguard Group, who died today in Bryn Mawr, Pennsylvania.

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