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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.

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