Vanguard Group has named Salim Ramji, a former BlackRock govt, to switch outgoing CEO Tim Buckley, efficient July 8, the asset supervisor introduced late Tuesday.
It is going to mark the primary time an outsider has been tapped to steer the asset supervisor in its roughly 50-year historical past, according to the Wall Street Journal.
“I’ve labored with Salim on the Government Committee of the Funding Firm Institute,” Buckley stated in a press release. “He cares about advancing the pursuits of particular person buyers, has a powerful fiduciary ethos, and thinks strategically about options. Salim understands our group’s deep sense of function and dedication to place shoppers first, which is a trademark of Vanguard’s management group and tradition.”
Ramji, the previous head of BlackRock’s iShares ETFs and index investments, left BlackRock earlier this yr after a decade with the asset supervisor. On the time, he stated he would “search a brand new management or entrepreneurial alternative” exterior of the agency.
Vanguard stated in late February that Buckley planned to step down by year-end and that it appointed Chief Funding Officer Greg Davis to the extra position of president.
