Australian link to Vanguard changes
Vanguard chief investment officer, Tim Buckley will become the company’s president and director succeeding Bill McNabb on 1 January, next year.
Vanguard announced the succession arrangements late last week, noting that Buckley would be the firm’s fourth CEO since its founding in 1975.
It said that McNabb, 60, who has served as Vanguard’s CEO since 2008, would remain as chairman of the board, while the current head of Vanguard’s Fixed Income Group, Greg Davis, would become chief investment officer.
Confirming his decision to step down as CEO, McNabb said that as the firm continued to grow, evolve and expand globally, it was the right time for a new leader.
He said the board had been unanimous in selecting Buckley for the role.
Buckley has been a member of Vanguard’s senior leadership team since 2001 and has served as Vanguard’s chief investment officer since 2013. He joined Vanguard in 1991 as assistant to then Chairman John C. Bogle, and was elected as a principal of the firm in 1998, and subsequently held senior leadership roles in two divisions, including as chief information officer and head of Vanguard’s Information Technology Division from 2001 to 2006, and head of Vanguard’s Retail Investor Group from 2006 to 2012.
Davis has led Vanguard’s Fixed Income Group since 2014, with responsibility for portfolio management, strategy, credit research, trading, and planning functions. He also previously served as the company's Asia-Pacific chief investment officer and a director of Vanguard Investments Australia.
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