Jennison Associates LLC (New York)


Jennison Associates LLC is a large advisory firm based in New York. It manages $160.91 billion of regulatory assets for 1,669 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Jennison Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and non-discretionary model advice. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Jennison Associates: assets under management

The assets under management (AUM) of Jennison Associates LLC is $160.91 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 99% since the beginning of its operation, and $4.67 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $160.91 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $96.41 million each.
Jennison Associates has custody of $256.55 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in government bonds the most. They account for 30% of the total AUM. The second-largest asset type is exchange traded securities, which make up 22% of the firm’s portfolio. Investments in pooled investment vehicles form 1% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Jennison Associates LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients David Hunt serves?

The firm provides services to individuals, insurance companies, investment companies, charitable organizations, other investment advisers, high net worth individuals, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of David Hunt is investment companies with 55 clients and $76.97 billion of assets under management. Among the 10 most similar advisory firms, Jennison Associates has the 5th highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $157.38 billion for 1,700 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Jennison Associates also advises several private funds. Namely, two hedge funds and two other private funds. The minimum investment commitment required of non-related persons ranges from $250,000 to $5,000,000.

Careers at Jennison Associates LLC

The company employs 309 people that are either part- or full-time employees. 21 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

David Hunt has been acting as President since 1 Feb 2012. Kenneth Moore joined the executive team most recently as the Executive Vice President, Treasurer & Chief Operating Officer.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Spiros Segalas President, chief investment officer & director 1 Jan 1998 Other 4344156
Michael Anthony Del Balso Executive vice president & director 1 Jan 1998 Other 4344129
John Howard Hobbs Chief executive officer, chairman & director 1 Jan 1998 Other 2670943
Karen Elizabeth Kohler Chief compliance officer, executive vice president & director 1 Jan 1998 Other 2670922
Kathleen Ann Mccarragher Executive vice president & director 1 May 1998 Other 2261168
Inc. Prudential Investment Management Member 1 Jun 2000 75% - 100% 105676
Inc. Pgim Member 1 Jun 2000 75% - 100% 105676
The Prudential Investment Corp Member 1 Jun 2000 75% - 100% 105676
John Robert Strangfeld Director 1 Jul 2000 Other 1301812
Kevin Charles Uebelein Director 1 Jul 2000 Other 1557685
Bernard Bruce Winograd Director 1 Jul 2000 Other 2877846
Mary Jane Flaherty Director 1 Jul 2000 Other 4344961
Philip Nicholas Russo Director 1 Jul 2000 Other 4344967
Victor Ying Wing Sim Director 1 Jul 2000 Other 4344972
Mirry Melissa Hwang Senior vice president, secretary & chief legal officer 1 Nov 2000 Other 4711849
Karen Elizabeth Kohler Executive vice president, chief operations officer, chief compliance officer & director 1 Jan 2003 Other 2670922
Dennis Miles Kass Chief executive officer, chairman & director 1 Jan 2003 Other 1244371
Kathleen Ann Mccarragher Executive vice president, head of growth equity & director 1 Jan 2003 Other 2261168
Mehdi Asif Mahmud Senior vice president & head of product management and business strategy 1 Mar 2003 Other 3041637
Kenneth Moore Senior vice president & chief financial officer 1 May 2003 Other 4604664
Scott Louis Hayward Senior vice president & head of institutional clients 1 Jun 2003 Other 4335063
Andrew Goldberg Senior vice president & chief information officer 1 Jun 2003 Other 4711852
Leslie Rolison Senior vice president & head of human resources 1 Jul 2003 Other 2824302
Stephanie Willis Senior vice president & chief compliance officer 1 Sep 2003 Other 2326509
Stephanie Davis Willis Senior vice president & chief compliance officer 1 Sep 2003 Other 2326509
Karen Elizabeth Kohler Executive vice president, head of retail distribution & director 1 Sep 2003 Other 2670922
Michael Anthony Del Balso Executive vice president, director of research for growth equities & director 1 Sep 2003 Other 4344129
Mehdi Asif Mahmud Executive vice president & head of product management and business strategy 1 Jan 2004 Other 3041637
Ronald Keith Andrews Director 1 May 2004 Other 1332875
Timothy John Knierim Director 1 May 2004 Other 4746062
Scott Louis Hayward Senior vice president & head of distribution 1 Jul 2004 Other 4335063
Scott Louis Hayward Executive vice president & head of distribution 1 Jan 2005 Other 4335063
Stuart Sherman Parker Executive vice president & head of retail 1 Jun 2005 Other 1767335
Mehdi Asif Mahmud Executive vice president, head of product management and business strategy, vice chairman, chief operating officer & director 1 Aug 2005 Other 3041637
Mehdi Asif Mahmud Managing director, head of product management and business strategy, vice chairman, chief operating officer & director 1 Feb 2006 Other 3041637
Joseph Michael Carrabes Executive vice president & head of institutional sales and client service 1 Mar 2006 Other 1853388
Kenneth Moore Executive vice president & chief financial officer 1 Apr 2006 Other 4604664
Kathleen Ann Mccarragher Managing director, head of growth equity & director 1 Dec 2007 Other 2261168
Charles Frederick Lowrey Director 1 Jan 2008 Other 2636964
Deborah Hope Wedgeworth Director 1 Sep 2008 Other 5594407
Joel Allen Smith Director 1 Nov 2010 Other 5512864
Jonathan Raymond Longley Director 1 Nov 2010 Other 1028980
Judy Ann Rice Director 1 Nov 2010 Other 67215
Kenneth Moore Executive vice president, treasurer & chief operating officer 1 Jan 2012 Other 4604664
Leslie Rolison Executive vice president & chief administrative officer 1 Jan 2012 Other 2824302
Mehdi Asif Mahmud Chief executive officer & director 1 Jan 2012 Other 3041637
David Hunt Director 1 Feb 2012 Other 4938400
David Alexander Hunt Director 1 Feb 2012 Other 4938400
Mehdi Asif Mahmud Chief executive officer, chairman & director 1 Jan 2013 Other 3041637
Mary Lynne Driscoll Director 1 Jan 2013 Other 6168421
James William Mccarthy Director 1 Jan 2013 Other 5242893
Taimur Hyat Director 1 Nov 2013 Other 5094006
Jurgen Muhlhauser Director 1 Mar 2014 Other 1733704
Janice Vrdoljak Senior vice president & chief financial officer 1 Jan 2016 Other 6848555
Kenneth Moore Executive vice president, treasurer, chief operating officer, chairman & director 1 Mar 2016 Other 4604664
Kenneth Moore Executive vice president, treasurer & chief operating officer 1 Oct 2016 Other 4604664
Jeffrey Todd Becker Chairman, director & chief executive officer 1 Oct 2016 Other 4447439
Pamela Margaret Sinclair Director 1 Oct 2016 Other 4716215

Indirect Owners

The SEC currently registers 5 indirect owners.

Name Entity Date acquired Ownership Employer ID
The Prudential Insurance Company Of America Parent 1 Jun 1984 75% - 100% 680
Prudential Asset Management Holding Company Llc Shareholder 1 Jun 2000 75% - 100% 14-1960383
Pgim Holding Company Llc Shareholder 1 Jun 2000 75% - 100% 14-1960383
Prudential Asset Management Holding Company Parent 1 Jun 2000 75% - 100% 22-3734538
Inc. Prudential Financial Shareholder 1 Dec 2001 75% - 100% 22-3703799

Based in New York

The principal office where Jennison Associates LLC performs its advisory services is located at 466 Lexington Avenue, New York, NY 10017, which is also the mailing address of the firm. An additional office of the firm is in Boston, MA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212.421.1000 or by fax 212.682.9831. The normal business hours are 9:00 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at jennison.com and its LinkedIn profile.