For the first time since its founding, Malvern-based Vanguard Group looked outside of its own ranks for its top executive earlier this year, writes Joseph N. DiStefano for The Philadelphia Inquirer.
In May, the investment giant with $9 trillion in assets under management named Salim Ramji as chief executive. Ramji previously headed BlackRock’s iShares and Index Investing Group, which has been boosting sales of ETFs in direct competition with Vanguard.
Ramji is “a brilliant man,” said Michael Lane, executive vice president and head of asset management at SEI, who also recently left BlackRock. “Super strategic.”
He added that at a recent dinner, “we talked about our experience at BlackRock, the way everyone continues looking forward, with very little celebrating of past wins. At BlackRock, you always think bigger. That’s the ethos.”
Ramji is the first Vanguard CEO who never worked for the company’s founder, John C. Bogle, and who has not come through the company’s ranks.
Read more about Salim Ramji leading Vanguard into the future in The Philadelphia Inquirer.
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