Vanguard has appointed the former global head of iShares at BlackRock for its new chief executive.
Salim Ramji will replace Tim Buckley, who announced his retirement earlier this year.
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.”
Before working at BlackRock, Ramji was a senior partner at McKinsey, where he led the asset and wealth management practice areas.
He started his career as a lawyer with Clifford Chance in London and Hong Kong.
Ramji is a trustee of Graham Windham, a New York-based child-welfare organisation, and serves on the international leadership council for the University of Toronto.
Greg Davis, president and chief investment officer at Vanguard, said: “Salim is a dedicated, purpose-driven leader with deep experience, powerful insight, and a genuine passion for our mission. I am excited to collaborate with him as we aim to continue to deliver innovative products and highly personalised advice that helps maximise long-term returns for our investor-owners.”
Davis has also joined Vanguard’s board of directors and Mark Loughridge, Vanguard’s lead independent director, has become the company's chairman.
damian.fantato@ft.com
