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Money Management Executive

Making the List

January 22, 2002, 1:00 a.m. EST 1 Min Read

What do American Century, Vanguard, Frank Russell Company, MFS and SEI Investments share in common? All of the companies made this year’s 100 Best Companies to Work For list published by Fortune magazine.

Frank Russell, which employs 1,068 people, finished ahead of all other fund companies, ranking 11 th, up from its previous position of 13 th last year. The firm received praise from Fortune for the 80 hours per year it gives to its employees to dedicate to philanthropy. Last year, Frank Russell employees contributed a total of 300,000 hours.

American Century, was listed 23 rd, dropping from last year’s position at 20 th place. The firm, which employs 2,931 staff, only had to fire 75 people and those people were given one month’s severance for each year worked, according to Fortune.

SEI Investments moved up on the list one spot from last year to 44 th. The firm added 272 positions, bringing its total to 1,742. SEI received praise for cutting back on its holiday party and offering its workers a more casual "black-tie and jeans" affair which saved the company $250,000.

MFS, which employs 2,755, fell from last year’s 49 th rank to 70 th. The firm, which like most asset management firms struggled to cut costs in the face of shrinking profits and assets, cut senior executives’ salaries and suspended contributions to its employee pension fund in order to avoid massive layoffs, according to Fortune. And, by year-end, it had restored pension contributions.

Vanguard dropped on the list from 43 rd last year to 88 th this year. The firm, which has 10,814 employees, managed to dish out $6,000 per employee for executives participating in its annual profit-sharing plan. The firm also grew its ranks 2%, adding 223 new positions.

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