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Lord Abbett history
Lord Abbett company history timeline
In 1931, the Westerfields resigned from the company.
On September 19, 1932, Lord created the investment trust, American Business Shares, which is now known as the Lord Abbett Income Fund.
In 1937, the firm opened its first west coast branch in Los Angeles.
Lord Abbett, along with other investment companies, made important contributions to the drafting of the Investment Company Act of 1940, which defines the responsibilities and limitations of investment firms.
In 1971, Lord Abbett launched the Lord Abbett Bond Debenture Fund, one of the first funds to invest in a combination of different types of fixed−income securities.
In 1975, Lord Abbett moved into pension fund management.
The firm launched its institutional business in 1976, with the introduction of a large-cap value product for an institutional client.
In 1978, American Utility Shares was merged into the Lord Abbett Income Fund.
He has worked at Lord Abbett since 1994 in various roles, including sales and product strategy, and was "partner, client services" before assuming his current role.
After Managing Partner Ronald Lynch's passing in 1996, there was speculation that the firm would be sold.
Foster announced that she would retire on March 31, 2018 and that Douglas Sieg would succeed her.
As of June 30, 2021, Lord Abbett managed around $246 billion in assets across a full range of United States mutual funds, UCITS Funds, institutional and separately managed accounts, including $1.2 billion for which Lord Abbett provides investment models to managed account sponsors.
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Lord Abbett competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| William Blair | 1935 | $1.2B | 1,401 | 29 |
| Bridgewater Associates | 1975 | $399.3M | 1,500 | 21 |
| Eaton Vance | 1924 | $1.7B | 1,871 | - |
| Legg Mason | 1899 | $2.9B | 3,059 | - |
| Citi | 1812 | $74.3B | 210,000 | 1,108 |
| Neuberger Berman | 1939 | $2.8B | 2,000 | 142 |
| Ssga | - | - | - | - |
| Pacific Investment Management Company LLC | 1971 | $787.9M | 2,900 | 178 |
| Putnam Investments | 1937 | $350.0M | 1,701 | - |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,156 |
Lord Abbett history FAQs
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Lord Abbett may also be known as or be related to Lord Abbett, Lord Abbett & Co LLC, Lord Abbett & Co. LLC and Lord, Abbett & Co. LLC.