Vanguard says that CEO Tim Buckley is set to succeed Bill McNabb as chairman on Jan. 1. He will be the fourth chairman in the 43-year history of the investment-management firm, which works with some $5.3 trillion of assets.
“Tim has been a strong, focused leader at Vanguard during times of tremendous company growth, as well as periods of significant market uncertainty,” according to McNabb. “The board of directors and I have tremendous confidence in his ability to lead Vanguard through this next chapter for the firm.”
Buckley took the reins from McNabb as CEO position at the start of 2018. Earlier, he had served as the firm’s chief investment officer (2013-2017), head of its Retail Investor Group (2006-2012) and as chief information officer (2001-2006).
The soon-to-be chairman joined Vanguard in 1991 as assistant to then-CEO John C. Bogle and became a principal in 1998. He also was chairman of the board of Children’s Hospital of Philadelphia from 2011 to 2017.