Fixed Income Portfolio Manager

About the Role

THE POSITION

Wellington (WMC) currently manages $524 billion in fixed income assets on behalf of our clients worldwide. The Financial Reserves Management (FRM) team manages approximately $210 billion in assets. Within our fixed income platform, we are seeking a Fixed Income (FI) Portfolio Manager (PM) to work with the FRM team and help drive the expansion of our suite of investment products to be more dynamic and opportunistic.

This individual will be based in Boston and be responsible for supporting credit portfolios strategies including investment grade and high yield focused portfolios as well as responsibility for managing credit holdings across multiple portfolios. This position will work closely with a senior credit PM and the broader credit research team to shape and execute investment strategies that reflect both firmwide research insights and the specific objectives of FRM custom client mandates. This portfolio manager will also be a strategic thought partner on the FRM platform, collaborating closely with colleagues to drive product development and manage portfolios. They will work closely with existing portfolio managers on portfolio strategy and risk management as well as with other members of the Fixed Income team including analysts, traders, and product managers. Additionally, this individual will interact regularly with clients over time as an ambassador for the team.

We are seeking a self-starter who thrives in a collaborative, entrepreneurial environment and who takes ownership of ideas from conception to implementation. Success in this role will come from intellectual curiosity, a willingness to challenge convention, and a commitment to team-based problem solving. This role offers an opportunity to shape the evolution of the FRM team’s credit platform by contributing to an ambitious, collaborative team that combines investment excellence with innovation and client impact.

Responsibilities

Specific responsibilities will include:

• Develop and manage credit strategies across client mandates, with an understanding of unique client needs to construct individualized portfolios.
• Lead a process that produces consistent idea generation across a broad set of portfolios and maintain the team’s credit framework.
• Evaluate new-issue and secondary opportunities in IG and HY markets, assessing fundamentals, structure, covenants, and relative value.
• Monitor and analyze portfolio credit exposures, identifying deteriorating credits and recommending reallocations as needed.
• Integrate credit research insights into sector strategy, portfolio positioning, and security selection.
• Partner with portfolio managers and the implementation team to translate top-down strategy into actionable trades.
• Contribute to quarterly sector strategy meetings with IG & HY sector views and recommendations.
• Maintain and enhance credit models for relative value, duration, optimization, and credit beta.
• Leverage Python and AI tools (e.g., ChatGPT) to accelerate model development and test new investment approaches.
• Communicate investment rationale and market perspectives through client write-ups, presentations, and portfolio reviews.

Qualifications

The successful candidate will possess strong credit and quantitative portfolio management skills, with 5–10 years of experience in an investment role. Prior experience as an investment-grade or leveraged credit analyst is preferred.

• Proven ability to make successful fixed-income investment recommendations supported by rigorous analysis and clear communication.
• Strong risk management instincts, with the ability to assess volatile or distressed credits dynamically.
• Superior collaboration skills with a demonstrated ability to partner effectively across portfolio management, research, trading, and client-facing teams to achieve shared outcomes.
• Growth mindset and actively seeks to drive innovation and improve investment processes.
• Independent thinker with intellectual curiosity and entrepreneurial drive.
• Excellent presentation skills, with the ability to communicate investment strategy and performance to clients and colleagues.
• Strong quantitative aptitude and enthusiasm for leveraging technology in the investment process.
• Undergraduate degree with a strong academic record; MBA and/or CFA preferred.
• Ability and willingness to travel.

Location

This position will be based in Wellington’s Global Headquarters in Boston, MA.

Benefits

The base salary range for this position is:

USD 120,000 - 225,000

This range takes into account the wide range of factors that are considered when making compensation decisions, including but not limited to skill sets; role; skills and experience; certifications; and education.

We offer a comprehensive and high value benefit package to meet the unique needs of our employees and their families, and we are committed to fostering a flexible work environment that enables employees to thrive personally and professionally. Examples of our benefits include retirement plan, health and wellbeing, dental, vision, and pharmacy coverage, health savings account, flexible spending accounts and commuter program, employee assistance program, life and disability insurance, adoption assistance, back-up childcare, tuition/CFA reimbursement and paid time off (leave of absence, paid holidays, volunteer, sick and vacation time).