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Citigroup Exec to Join Vanguard to Lead Legal Department

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Anne E. Robinson will join Vanguard next month as general counsel and managing director of its legal and compliance division, the $3.5 trillion investment management firm announced on Thursday.

Robinson most recently served as a managing director and general counsel in the Citigroup Global Legal Department. 

“Anne Robinson is an ideal addition to Vanguard’s senior leadership team. Her expansive and varied legal experience in the financial services and consulting fields will be of great value to Vanguard and our clients,” said Vanguard CEO Bill McNabb in a statement.

Robinson has nearly 20 years of legal experience in the financial services industry. After spending the early part of her career in private law practice and with Deloitte Consulting L.P., Robinson joined American Express in 2003 and served in various legal positions of increasing responsibility. She joined Citi in 2014 as the general counsel for global cards. Robinson received a B.A. degree in political science with honors from Hampton University in 1991 and graduated from the Columbia Law School in 1994.

Robinson will assume leadership of Vanguard’s legal and compliance division from Managing Director Heidi Stam, who announced her intentions to retire in October 2015. Stam, who joined Vanguard in 1997, has served as managing director and general counsel of Vanguard Group since 2005.

Robinson will take her place as a member of the firm’s 12-person senior leadership team in August, and will be responsible for all legal and compliance activities, including regulatory, corporate and litigation matters.

Recently, Vanguard Group announced another record year in new client money. The firm attracted $148 billion in new client money during the first six months of 2016, surpassing its previous first-half record of $140 billion set last year. In June alone, about $30 billion flooded into the firm’s mutual funds and exchange-traded products.

The firm is benefiting from a growing preference for low-cost vehicles that track indexes as investors lose faith in the ability of active managers to beat the market. Vanguard has slashed fees to as low as 1 cent per $100 invested.

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