Vanguard Group has found its next chief executive in Salim Ramji, who will be the first outsider to run the Malvern-based investment behemoth, writes Jack Pitcher for The Wall Street Journal.

Ramji will succeed Tim Buckley, who is retiring after running the company for six years.

Analysts say that once he takes over the $9 trillion asset manager, Ramji will have to balance any ambitious business plans with the conservative investing culture instilled by its late founder John C. Bogle.

Vanguard collected $203 billion of new investor money last year, making it a dominant player in the U.S. funds business, even though the company keeps its overall financial performance private.

Ramji, 53 years old, is the son of Tanzanian immigrants who grew up in British Columbia. He is a seasoned debater and has won every debate he entered.

He was a lawyer before joining McKinsey in 1998. He rose to senior partner before moving to BlackRock in 2014. There, he eventually took over the money manager’s exchange-traded funds and index investing, which is Vanguard’s bread and butter.

Ramji said he will not discuss his mandate and mission for Vanguard until his first official day.

Read more about Vanguard Group finding its new CEO in Salim Ramji in The Wall Street Journal.

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