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Wellington tells El Paso pension trustees of manager succession, duration stance and mortgage exposure
Summary
Wellington staff updated the board on firm scale and strategy changes, announced lead portfolio manager Joe Marvin will retire in June 2026 with Connor Fitzgerald named as successor, and described a longer-duration posture and increased agency-mortgage exposure.
Wellington representatives gave the El Paso City Pension Trust board a business and portfolio update during the meeting’s investment-manager presentations. Mary Ross, on Wellington’s relationship team, said the firm remains "a global asset management firm with 1,300,000,000,000.0 assets under management," and confirmed no material changes to firm structure since the last meeting.
Kara Burley, who works on Wellington’s core bond plus strategy, told trustees that lead portfolio manager Joe Marvin announced his retirement…
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