Vanguard's Tim Buckley to retire
Vanguard chief executive and chair Tim Buckley has announced his retirement after three decades at the investment manager.
He is set to retire at the end of the year.
Vanguard's board of directors is actively searching for Buckley's successor, considering both internal and external candidates to lead the company.
Reflecting on his decision, Buckley expressed his passion for nurturing future leadership, aiming to propel Vanguard to new heights.
"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 future opportunities while continuing to deliver for our investor-owners," he said.
Buckley joined Vanguard in 1991 as founder John Bogle's research assistant. He ascended to the senior leadership team in 2001 as head of the information technology division.
He then spearheaded the personal investor division before his tenure as chief investment officer.
He was appointed chief executive in 2018 and became chair in 2019.
Under Buckley's leadership, Vanguard expanded its client base to more than 50 million investors globally while growing assets under management by more than 80 per cent to $9 trillion.
Separately, Vanguard chief investment officer Greg Davis has been appointed president, taking responsibility for all aspects of the firm's investment management, retirement business, and services for financial adviser clients, overseeing most Vanguard fund and ETF distribution.
In his new role, Davis will champion policies to better capital markets and increase accessibility for investors to "save for a secure future."
Serving as chief investment officer and global head of Vanguard Investment Management Group since 2017, Davis currently oversees $8 trillion in global assets managed by the firm's fixed income, equity index, and quantitative equity groups.
Before being named chief investment officer, Davis was the principal and global head of Vanguard fixed income group as well as the company's Asia-Pacific chief investment officer.
Davis is also a member of the US Department of the Treasury and the Federal Reserve Bank of New York Investor Advisory Committee on Financial Markets.
