Vanguard Names $9 Trillion Asset Manager Salim Ramji as CEO, Effective July 8

May 14, 2024, 11:09 PM

Vanguard Group has appointed Salim Ramji, a former BlackRock executive, as its new CEO, effective July 8. This marks the first time in Vanguard's nearly 50-year history that an outsider will lead the company. Ramji, who led BlackRock's global ETF business and oversaw the launch of its Bitcoin ETF and the IBIT filing, will succeed Tim Buckley, whose departure was announced in February. Vanguard manages approximately $9 trillion in assets and employs 12,000 people in Chester County. The firm has historically taken an anti-crypto stance, including removing Bitcoin ETFs from its platform earlier this year. Ramji's appointment has sparked speculation about a potential shift in Vanguard's approach to cryptocurrency investments.