Wellesley Asset Management, a New Hampshire-based investment advisory firm, recently reported a data breach to the Attorney General of Maine, which involved unauthorized access to sensitive personal information. The breach occurred after an employee’s email account was compromised on May 20, 2024. Upon discovering the suspicious activity, Wellesley initiated an investigation to assess the nature and scope of the incident, working to determine which data had been exposed.
The investigation revealed that personal information may have been viewed by an unauthorized party during the time the email account was compromised. Although the breach affected varying data sets for each individual, the potentially exposed information included names, Social Security numbers, and financial account numbers. Wellesley took immediate steps to identify the individuals affected and began a thorough review to determine the full extent of the exposure.
On September 20, 2024, Wellesley began notifying the affected individuals by mailing breach notification letters, which included details about the specific personal data impacted. As part of the company’s efforts to mitigate the risks of identity theft, Wellesley offered complimentary credit monitoring services to those affected by the breach. The firm also emphasized the importance of reviewing credit reports and monitoring accounts for any suspicious activity.
Wellesley Asset Management, founded in 1991 and headquartered in Portsmouth, New Hampshire, manages approximately $2 billion in assets. The firm specializes in providing non-traditional investment strategies and managing assets for institutional investors. With a team of about 30 employees, Wellesley has been recognized for its unique approach to investment management, focusing on convertible bonds to help mitigate risk while delivering returns.
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