During his interview on Bloomberg Markets: America, Vanguard CEO Bill McNabb said that the Malvern investment-management giant gets a competitive advantage from staying private, writes Natalie Walters for The Street.

“From my perspective, it’s actually a competitive advantage not to be laying it all out there,” said McNabb.

He added that the company’s history shows that Vanguard has been diligent in lowering costs for its investors.

“So for us, it’s been keeping that part of the equation private between us and the individuals,” McNabb said. “It’s been a really good thing in terms of hiring and attracting talent.”

Read more of McNabb’s comments at The Street here, and check out previous VISTA Today coverage of Vanguard here.