Vanguard said Tuesday that its long-time financial advisor services division head Tom Rampulla will retire at the beginning of 2024. His role will be taken on by Amma Boateng, the current head of the broker-dealer channel within the advisor services group.
The changes to Vanguard's senior leadership team are effective Jan. 1, 2024.
In a statement, Vanguard Chairman and CEO Tim Buckley says Boateng has been "central to building a sophisticated [offering] for our financial advisor clients," noting that she brings "deep expertise in global capital markets, strong digital acumen, and a passion for helping advisors drive investment success for individual investors."
The outgoing Rampulla joined Vanguard in 1988 and was first appointed to senior leadership team as head of the financial advisor services division in 2015. During his tenure, the division grew to manage more than $3 trillion in assets, according to Vanguard, while serving more than 150,000 financial advisors.
Earlier in his tenure, Rampulla led Vanguard's U.K. and European operations, and he also helped expand distribution of Vanguard's U.S. ETF product lineup.
