Vanguard Group has named Salim Ramji, a former BlackRock government, to switch outgoing CEO Tim Buckley, efficient July 8, the asset supervisor introduced late Tuesday.
It can mark the primary time an outsider has been tapped to guide the asset supervisor in its roughly 50-year historical past, in line with the Wall Avenue Journal.
“I’ve labored with Salim on the Government Committee of the Funding Firm Institute,” Buckley mentioned in an announcement. “He cares about advancing the pursuits of particular person buyers, has a robust fiduciary ethos, and thinks strategically about options.
“Salim understands our group’s deep sense of function and dedication to place purchasers first, which is a trademark of Vanguard’s management workforce and tradition,” the outgoing CEO added.
Ramji — the former head of iShares ETFs, index investments, U.S. wealth advisory and company technique — left BlackRock earlier this 12 months after a decade with the asset supervisor. On the time, he mentioned he would “search a brand new management or entrepreneurial alternative” outdoors of the agency.
Previous to his work at BlackRock, he spent 16 years at McKinsey & Firm , the place he led the consulting group’s asset and wealth administration observe areas. He additionally labored earlier for the legislation agency Clifford Probability.
See: Vanguard Watchers Baffled Over CEO’s Retirement information