Vanguard Strategy Exec to Retire

Glenn Reed will step down, with Chris McIsaac taking over his responsibilities, the fund giant says

A Vanguard booth at an industry conference (Photo: AP) A Vanguard booth at an industry conference (Photo: AP)

Vanguard said Friday that Glenn W. Reed, head of the fund firm’s Strategy Division, will retire in late July. He worked with the company as outside counsel for more than 20 years before being hired in 2007 to oversee its Finance division.

Chris McIsaac, now head of the Planning and Development division, will take over Reed’s strategy and innovation responsibilities. In addition, Vanguard says its Investment Stewardship group will report to Anne Robinson, head of Legal and Compliance.

“We thank Glenn for more than a decade of service to our clients and crew,” said Vanguard CEO Bill McNabb, in a statement. “His long association with Vanguard and his experience were great assets in guiding the firm through the global financial crisis and the ensuing period of rapid growth and expansion. We wish him the best during his well-earned retirement.”

Reed served as general counsel for a multi-line health and life insurance company early on in his career. From 1978 to 1999, he was a partner at Gardner Carton & Douglas, a Chicago-based law firm, where he specialized in corporate finance, mergers and acquisitions, and issues related to investment management; in this role, the attorney served Vanguard as outside counsel. 

As of April 30, Vanguard managed $4.3 trillion in global assets. It has nearly 370 funds held by more than 20 million investors worldwide. 

--- Check out Vanguard Boasts a Trillion Dollars Worth of Boredom and Counting on ThinkAdvisor.

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