1. Capital Group Cos.

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Capital Group Cos.


Los Angeles


Business:

Financial services


Founded:

1931


Local Employees:

1,464


Capital Group Cos. is one of the nation’s three largest investment management companies, with its American Funds considered the largest family of mutual funds in the U.S.


Yet its downtown Los Angeles headquarters lack the traditional corner offices or special parking spaces set aside for top executives not even for Jon B. Lovelace, emeritus chairman, whose father founded the original investment company during the Great Depression.


“This is a very flat organization,” said Darcy Kopcho, a senior portfolio manager, who traces the low-key and collaborative corporate culture to Lovelace and his father. “What I’ve loved here is the combination of really smart and extremely nice people. Clearly there are people here who have more responsibilities than others, but we really have a very heavy respect for an individual’s opinion.”


The company generally avoids elaborate mission statements, preferring to pass on the institution’s values through role models and storytelling by veteran associates who serve as informal mentors to recent hires.


Erin Dolby, a copy editor for the company’s online sites for almost eight years, recalls how surprised she was by how different her perception of the company was from reality right down to its “business casual” dress code.


“My expectation would have been that it was a dry place to work with everyone in gray suits,” Dolby said. “That perception was dashed by the interview process, which was so in-depth. I talked to a half dozen people before I was hired here and the more people you meet here the more you think ‘These people can’t possibly be as nice as I think they are.’ But then they really are.”


That culture hasn’t changed much, even as Capital Group has grown from $30 billion in assets under management to more than $1 trillion in the 20 years since Kopcho first joined the privately held company; it now employs nearly 1,500 people in the Los Angeles area and more than 7,500 around the country.


Kopcho also recalls that the company’s philanthropic reputation was a motivating factor in her initial decision to join the company. “Giving back to the larger community has always been an important part of the company,” she said, noting she has a special interest in supporting entrepreneurs in the Philippines through an outside micro-lending program. She further takes advantage of the company’s two-to-one match of any charitable donations she makes.


Locally, Capital Group’s management training program for selected new hires provides the option of working for an area non-profit as part of a two-year rotation through various segments of the company. In addition, workers with five years at the company can apply for a “service leave-of-absence” that enables them to work at a non-profit of choice for up to six months and still receive up to 75 percent of their salary.


For those looking to further their education, especially for a business-related graduate degree, the company offers various levels of tuition reimbursement.


And as befitting an organization that aims to increase the retirement nest eggs of its individual investors, the Capital Group contributes to a defined benefit plan equivalent to 15 percent of an employee’s total compensation, in addition to sponsoring a 401(k) program to which the employee contributes. The company also offers a variety of merit-based performance and profit-sharing bonuses.


Its vacation accrual schedule is among several benefits that contribute to long tenures and a low 6 percent annual turnover rate in the Los Angeles offices last year. Workers get 18 days vacation in the first year of employment, growing to 28 days after 20 years, with bonus days accruing after that.


“It makes you feel very valued here,” Dolby said. “I’ve stayed here because there is really no reason to leave. This is really the best company I’ve worked for.”



Deborah Crowe

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