Hartford Financial Services Group Inc. is shifting more than two dozen senior managers and staff from Simsbury to its relocated mutual-funds headquarters in Radnor, Pa., where it intends to hire 50 more employees, authorities say.
The Hartford said Thursday the relocation coincides with its expanded relationship with Wellington Management. Wellington, now sole sub-advisor for all of The Hartford's fixed-income and equity mutual funds, has operations in Radnor.
Recently, more than 100 of The Hartford's mutual-fund sales and marketing staff moved from Wayne, Pa., to Radnor, authorities said.
Meantime, The Hartford's transfer agency and other back-office operations will remain in Woodbury, Minn.
Jim Davey, president The Hartford Mutual Funds, says its plans to hire as many as 50 employees this spring in Radnor office to support sales of its funds in the advisor-sold and defined contribution investment only channels.
The Hartford Mutual Funds was established in 1996 and, as of Dec. 31, 2011, had nearly U.S. $90 billion in assets under management.