05.14.24
Vanguard Names Former BlackRock Executive as CEO
by: Cara Lombardo and Justin Baer
Vanguard Group tapped former BlackRock executive Salim Ramji as its next leader, putting an outsider in charge of the asset manager for the first time in its roughly 50-year history. Ramji, who led BlackRock’s exchange-traded funds and index investing until earlier this year, will start as Vanguard’s chief executive in July. Ramji left BlackRock in January after about a decade. Vanguard in February said CEO Mortimer J. “Tim” Buckley was stepping down and that the firm was launching a search process for its next leader. It also promoted Greg Davis, previously Vanguard’s chief investment officer, to president. On Tuesday, Vanguard moved to add both Ramji and Davis to its board and named Mark Loughridge its nonexecutive chair.
Read the full article on The Wall Street Journal