Vanguard CEO and Chairman Tim Buckley is set to retire at the end of 2024 after working at the asset management firm for over 30 years. Chief Investment Officer Greg Davis has been appointed to the additional role of president, effective immediately, according to Vanguard.
The firm confirmed late on Thursday that the search for a new CEO has already begun. Vanguard will search through “both internal and external candidates.”
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“In my seventh year as CEO, we have scaled our mission … and our team is just getting started,” Buckley said in a statement. “I have been passionate about developing the next generation of leaders, and I look forward to those leaders elevating Vanguard to new heights.”
Tim Buckley first joined Vanguard in 1991 as the research assistant of founder John Bogle. He was named CEO in 2018 and chairman in 2019. While with Vanguard, Buckley helped the firm grow its client base to over 50 million investors worldwide. Furthermore, assets grew by over 80% to $9 trillion.
Vanguard is currently the second-largest asset management firm in the world at press time and has been for some time.
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