Vanguard has appointed Salim Ramji as the firm’s new CEO, effective 8 July.
Ramji, who will also become a member of the board, succeeds Tim Buckley who is stepping down. At the same time, Mark Loughridge, Vanguard’s lead independent director, will be appointed non-executive chairman.
Vanguard’s new CEO has more than a quarter of a century’s worth of experience in investments, capital markets and wealth management, including a decade as a senior leader at BlackRock. Ramji was global head of iShares and index investing, where he was responsible for managing a majority of the firm’s client assets and developing the iShares platform.
Prior to leading iShares, Ramji was head of US wealth advisory and began his BlackRock career as the global head of corporate strategy. Before joining BlackRock, Ramji was a senior partner at consultancy McKinsey, where he led the firm’s asset and wealth management practice.
On his appointment, Ramji said: “The current investor landscape is changing, and that presents opportunities for Vanguard to further its mission of giving people the best chance for investment success, which is more relevant today than at any time in the firm’s five-decade history. My focus will be to mobilise Vanguard to meet the moment while staying true to that core purpose – remaining the trusted firm that takes a stand for all investors.”
Vanguard lead independent director Mark Loughridge said: “We have significant opportunities for growth ahead, including how technology and the client experience can drive solutions and extend the benefits of wealth management to more investors. Salim is an exceptional leader who is aligned with Vanguard’s mission-driven culture, making him the ideal candidate. Vanguard has an important future, and we believe he is the best person for the job.”
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