Salim Ramji stepped into the chief executive officer role at Vanguard Group Monday and joined the powerhouse asset manager's board, in keeping with a previously announced transition.
Ramji will steer an industry leader that has been facing customer service complaints, criticism over new brokerage fees and policies, and questions about whether it's shifting from its foundational customer-centric stance.
The former BlackRock executive, succeeding Tim Buckley, who has retired as chairman and CEO, becomes the first Vanguard outsider tapped for the CEO spot. He previously led iShares ETFs, index investments, U.S. wealth advisory and corporate strategy.
"For nearly 50 years, Vanguard has taken a stand for individual investors, with an unyielding commitment to serving their best interests and helping them achieve their long-term financial goals," Ramji said.
"I am honored and humbled to lead Vanguard into its next chapter, and am deeply committed to continue to steward the company's mission to give investors the best chance for investment success."
