Vanguards chief executive of nearly a decade will step
down from the role early next year, the firm announced
Bill McNabb, the passive investing giants third CEO since its founding in 1975, will
retain his role as chairman of the board. CIO Tim Buckley has
been tapped to serve as the new CEO starting January 1.
As the firm continues to grow, evolve, and expand
globally, it is the right time for a new leader and the board
is unanimous in its belief that Tim Buckley is the ideal next
chief executive for Vanguard, McNabb said in a statement.
I have worked alongside Tim for many years and he brings
a strong passion for serving Vanguard clients and crew, a
global mindset, and significant leadership experience in all
facets of our operations.
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Buckley has served as Vanguards CIO since 2013 and has
been a member of the firms senior leadership team for
sixteen years, having held roles as chief information officer
and head of Vanguards retail investor group. He first
joined Vanguard in 1991 as an assistant to then chairman John
Greg Davis, global head of Vanguards fixed income
group, will take over the CIO role, assuming oversight
responsibility for more than $3.8 trillion managed by the
firms fixed income, equity index, and quantitative equity
I am honored to lead this great organization into its
next chapter, Buckley said. I look forward to
working closely with Bill over the next six months as I
transition to my new role.