Malvern-based Vanguard Group has expanded its board of directors to 16 members with the appointment of two veteran investment firm CEOs, David Hunt and Ken Jacobs, writes Jeff Blumenthal for the Philadelphia Business Journal.
Beginning Feb. 24, the new board members will also serve on the board of trustees for each Vanguard fund.
After a 23-year career at McKinsey & Co., Hunt became CEO of PGIM, the asset management arm of Prudential Financial, from 2011 to 2025. Vanguard said that he brings significant expertise in multi-asset investing, organizational leadership, and regulatory engagement.
Having served as CEO of Lazard, Jacobs remains senior chairman at the firm, where he has been employed since 1988. His areas of expertise include corporate strategy, international market development, risk and regulatory issues, and technology-driven business transformation, according to Vanguard.
Hunt and Jacobs bring “long track records of disciplined leadership, thoughtful governance, and global perspective within the financial services industry will meaningfully enhance the board’s capabilities,” said Vanguard Chair Mark Loughridge.
A Vanguard spokesperson also confirmed that the two new members are not replacing anyone on the board and added that “there are no other changes to the board at this time.”
Read more about Vanguard Group adding new board members in the Philadelphia Business Journal.
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