Investment Advisor Vanguard's CEO Tim Buckley To Step Down, Search For Successor Underway
Portfolio Pulse from Vandana Singh
Vanguard's CEO Tim Buckley announced his retirement by the end of 2024 after over 30 years with the company. Vanguard has begun searching for a successor, considering internal and external candidates. Greg Davis has been appointed as President. Under Buckley's leadership, Vanguard's assets grew over 80% to $9 trillion, benefiting from the trend towards low-cost passive funds. Vanguard is now the second-largest ETF issuer in the U.S., behind BlackRock Inc (NYSE:BLK). Buckley navigated Vanguard through political challenges without engaging in the controversies of ESG investing.
March 01, 2024 | 5:26 pm
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BlackRock Inc (NYSE:BLK) is mentioned as the largest ETF issuer in the U.S., ahead of Vanguard. The article highlights Vanguard's strategic positioning in the ETF market, which could indirectly impact BlackRock's competitive landscape.
While the article primarily focuses on Vanguard's leadership transition and growth, it indirectly references BlackRock's position in the ETF market. This could suggest a competitive dynamic, but the direct short-term impact on BlackRock's stock is likely neutral. The mention does not suggest any immediate threat or advantage for BlackRock but highlights the competitive environment in the ETF sector.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60