American investment management firm Vanguard Group has named Tim Buckley as its new CEO, replacing Bill McNabb who served nine years in the role.
Buckley, currently the firm’s CIO, will assume the new responsibility on 1 January 2018.
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Before taking up the role of CIO in 2013, Buckley also held several other roles at the firm including chief information officer and head of the firm’s information technology division and head of the firm’s retail investor group.
McNabb, who joined the firm in 1986, will continue to serve as chairman of the board.
Meanwhile, Greg Davis, currently the firm’s global head of fixed income, will succeed Buckley as CIO.
“As the firm continues to grow, evolve and expand globally, it is the right time for a new leader and the board is unanimous in its belief that Tim is the ideal next chief executive for Vanguard,” McNabb stated.
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