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Vanguard Names Its First Risk Chief

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Vanguard has tapped Joseph P. Brennan for the new post of global chief risk officer. Brennan, 49, joined the firm in 1991 and became head of the Equity Index Group in 2013.

“We believe centralizing our risk management functions under a single senior leader will benefit both our clients and Vanguard,” according to CEO Tim Buckley. “Joe’s vast and varied investment management and leadership experience both in the U.S. and abroad make him the ideal candidate to integrate and enhance our capable and strong global risk management teams.”

The Equity Index Group oversees $3.1 trillion in nearly 320 mutual funds and ETFs.  Overall, Vanguard managed $5.1 trillion in global assets and has some 400 funds.

Taking over Brennan’s role in the group is C. Rodney Comegys, 49, principal and head of the Risk Management Group within the Vanguard Investment Management Group; Comegys joined Vanguard in 1999.

Brennan — no relation to former Chairman and CEO John (Jack) Brennan — has worked in Vanguard’s Fixed Income Group and Portfolio Review Department (which he led for five years) as chief investment officer for the Asia Pacific region and for the senior leadership team of Vanguard Australia.

The new global CRO is a CFA charterholder and member of the CFA Society of Philadelphia. He earned a B.A. from Fairfield University and an M.S. from Drexel University.

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