CEO commences tenure at Vanguard
New Vanguard chief executive Salim Ramji has commenced the position at the global firm.
Ramji was appointed earlier this year to replace Tim Buckley who departed the firm after more than 30 years, including six years as chief executive. He joined Vanguard on 8 July as part of the planned transition.
Ramji has more than 25 years’ experience, including a decade at BlackRock where he was the global head of iShares and Index Investing. Prior to this, he was the head of US wealth advisory at BlackRock. Before joining BlackRock, he was a senior partner at consultancy McKinsey & Company where he was in charge of the firm’s asset and wealth management practice.
Ramji said: “For nearly 50 years, Vanguard has taken a stand for individual investors, with an unyielding commitment to serving their best interests and helping them achieve their long-term financial goals. I am honoured and humbled to lead Vanguard into its next chapter, and am deeply committed to continue to steward the company’s mission to give investors the best chance for investment success.”
Daniel Shrimski, managing director of Vanguard Australia, said: “Salim brings with him not only extensive financial services experience, but a deep connection with our organisation’s driving purpose and commitment to put our clients first.
“We look forward to Salim’s support and leadership as we continue to serve our Australian clients and help get them closer to their financial goals.”
Taking over Buckley’s chair role will be Mark Loughridge, Vanguard’s lead independent director, who will be appointed as non-executive chairman.
At iShares, which has over 1,400 products, the firm said it had instead created a global product strategy group rather than appointing a direct replacement for Ramji.
This is led by Stephen Cohen as chief product officer, and Rachel Lord as head of international business across EMEA and Asia-Pacific. The two appointments are part of the firm’s succession planning ahead of the eventual departure of Larry Fink, who founded the company in 1988 and is its chief executive.
AUTHOR
Laura Dew
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