Vanguard’s Transition

Vanguard Chairman CEO Tim Buckley will retire by the end of the year, the giant asset and wealth management company said Thursday afternoon. Vanguard’s board of directors has started looking for a replacement and will consider internal and external candidates, the company said. It also named Chief Investment Officer Greg Davis as president, a role he’ll hold in addition to CIO. The appointment is effective immediately.

Legacy of Tim Buckley

Buckley has led the company since 2018 and served as chairman since 2019. He has worked at Vanguard for 33 years, beginning as founder John Bogle’s research assistant. He later held a variety of roles including head of Vanguard’s Information Technology Division.

In a statement, Buckley mentioned, “Thirty-three years ago, I was lucky to join a company that believed in giving investors a fair shake as they saved for retirement, for their kids’ college education, or for their dream home. In my seventh year as CEO, we have scaled our mission to more than 50 million investors, and our team is just getting started.”

Company Growth Under Tim Buckley

The company was already an industry leader when Buckley took the helm, but it’s grown by leaps and bounds since then. During his tenure, Vanguard expanded its client count to more than 50 million globally and grew assets under management by more than 80% to $9 trillion, according to the company.

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