Tim Buckley, Vanguard CEO and chairman, will retire from his position after more than three decades at the company.
Buckley, who spent six years as CEO, will step down at the end of the year having joined Vanguard in 1991 as founder John Bogle’s research assistant.
Rising through the asset manager, he joined the senior leadership team in 2001 as information technology lead and helped scale the business to more than 50 million investors and $9trn assets under management.
Buckley became head of the personal investor division and was then promoted to chief investment officer before being named CEO in 2018.
In addition, Buckley oversaw Vanguard’s international expansion into Europe, Australia, Canada, and Latin America.
Vanguard said they have started the process to find a new CEO.
“It has been an absolute privilege to lead Vanguard and help advance the company’s mission of giving clients the best chance for investment success. Today, Vanguard is poised to seize the opportunities of the future while continuing to deliver for our investor-owners,” Buckley said.
Following his departure, chief investment officer, Greg Davis, will take on the expanded role of president.
“Davis will be responsible for all aspects of the firm’s investment management, retirement business, and services for financial adviser clients, overseeing the majority of Vanguard’s fund and ETF distribution,” Vanguard said in a statement.
