JERSEY CITY, NJ – December 14, 2020 – Lord, Abbett & Co. LLC (“Lord Abbett”), an independent, privately-held investment management firm, announced today that the firm has been recognized as one of the Best Places to Work in Money Management in 2020 by Pensions & Investments Magazine.
This prestigious award represents an important milestone on Lord Abbett’s journey of transformation, which began in 2018 when the firm embarked on an intentional cultural shift. Over the last two-and-a-half years, the firm has taken significant steps forward to advance the organization; committing to making leadership the lifeblood of the firm; creating a bold vision for its employees and articulating the shared values that guide them; evolving the firm’s culture to one that is principles-led, performance-oriented, and purpose-driven; building a strategic planning process that is rigorous, comprehensive, and engaging; and elevating the organization’s mission to express its higher purpose (“Securing a sustainable future for our clients, our people, and our world”). These efforts have been widely embraced by the firm’s employees.
“Our vision is to be the most respected asset manager in the world, admired for our people, our performance, our relationships, and our organizational agility,” said Douglas B. Sieg, Managing Partner of Lord Abbett. “So, we set out to become one of the best places to work in our industry. We are incredibly proud of our principles-led, performance-oriented, purpose-driven culture, and of our ongoing efforts to advance the organization. We are just getting started.”
The firm has enjoyed high levels of engagement and participation in firmwide activities including guest speaker events, leader development, and experiential learning. The organization’s emphasis on inclusion and diversity includes a growing array of initiatives such as the Women’s Network, which offers training and growth programs for women and male allies. Lord Abbett’s efforts to enhance firm-wide inclusion and diversity resulted in a first-time score of 80% on the Human Rights Campaign’s Corporate Equality Index.
During the COVID-19 pandemic, Lord Abbett’s strong culture has provided it with the agility required to adapt and advance in uncertain times. The firm’s leadership has maintained frequent and meaningful communication with employees through weekly town hall meetings and has promoted well-being through ongoing dialogue and resources focused on physical and mental health.
Lord Abbett was named to the Best Places to Work list based on two components. Seventy-five percent of the scoring was based on employee survey responses, which cited the firm’s strengths in its leadership and planning, pay and benefits, and work environment. The remaining 25% of the scoring was based on Lord Abbett’s workplace principles, philosophy, systems, and demographics.
For more information about Lord Abbett, please visit lordabbett.com.
About Lord Abbett
Lord, Abbett & Co. LLC is an independent, privately-held firm. One of the oldest money management firms in the United States, the firm has forged a culture that is principles-led, performance-oriented, and purpose-driven, and is guided by the shared values of excellence, responsibility, transparency, and collaboration. Lord Abbett manages approximately $210.1 billion in assets (as of September 30, 2020) across a full range of U.S. mutual funds, UCITS Funds, institutional and separately managed accounts, including $1.0 billion for which Lord Abbett provides investment models to managed account sponsors.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in a fund’s summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388, or visit us at lordabbett.com. Read the prospectus carefully before investing.
Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.
Shares of Lord Abbett mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, and are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of principal amount invested.