Vanguard's New Captain: Salim Ramji from BlackRock's Helm

Vanguard's New Captain: Salim Ramji from BlackRock's Helm
Vanguard's New Captain: Salim Ramji from BlackRock's Helm

Vanguard Group is preparing to appoint Salim Ramji, a former BlackRock executive, as its new leader. Ramji led BlackRock's exchange-traded funds and index investing until earlier this year and is expected to become Vanguard's chief executive officer soon.

Ramji joined BlackRock in 2014 to lead corporate strategy. He also led its U.S. wealth-advisory business before taking his most recent role. He was among a half dozen executives seen as potential replacements for co-founder and CEO Larry Fink.

Ramji will be the first Vanguard chief that didn’t work directly with late founder John C. Bogle. Bogle founded Vanguard in 1974 and introduced the world’s first index mutual fund in 1975.

At Vanguard, Ramji will take over a colossal asset manager in its own right, second only to his former employer. It has excelled at collecting new assets but experienced growing pains along the way, including technology issues and customer-service complaints on its brokerage platform.

newsid: v3wgqome8mb8squ

Related stories
31 minutes ago - Berkshire Hathaway is the creation of Warren Buffett, so what will it be when Buffett steps aside?
2 hours ago - So far, the technology has replaced only a small number of workers. But the future risks many more.
19 hours ago - Bruce Nordstrom, who cemented his family’s namesake Seattle-based company as a national retailer, died Saturday morning, according to his family.
1 day ago - Villa Vie Residences is offering a new program called Endless Horizons, which offers unlimited cruise access for a flat fee. The deal is aimed at retirees.
1 day ago - (Bloomberg) -- From New York to London to Tokyo, if there’s one similarity among the world’s equity markets it’s this: record highs.Most Read from BloombergA 25-Year-Old BofA Trader Dies Suddenly at Industry OutingChina Attempts to End Property Crisis With Broad Rescue PackageUS Company Becomes World’s Most Valuable Solar Firm After Chinese Rivals SlipChina Says Agriculture Minister Tang Renjian Is Under InvestigationZyn Shortage? Nicotine Pouches Out of Stock in Several US StatesOf the world’s
Other stories
3 minutes ago - Families in California pay more for groceries than those in any other state. Now, a single fruit is being sold at a SoCal retailer that costs more than the average of $297.72 per week that househol…
55 minutes ago - GameStop (NYSE:GME) stock doesn’t seem to do anything in half measures. Following a long absence, a recent tweet by Roaring Kitty, the person largely responsible fo...
1 hour ago - Every restaurant investor is looking for the next Chipotle Mexican Grill (NYSE: CMG). The fast-casual restaurant chain has posted phenomenal returns...
1 hour ago - My bologna has a first name, it's O-S-C-A-R...We all recognize the famous Oscar Mayer jingle. But the brand has much more than bologna. It also has...
1 hour ago - The Dow Jones Industrial Average is coming off of a notable week, having reached an all-time high on Thursday and a close above 40,000 on Friday.