Vanguard chief investment officer Gus Sauter will retire at the end of the year after a 25 year spell at the firm.
Sauter will be replaced by Tim Buckley, the group's head of retail. He will be tasked with overseeing Vanguard's global investment management groups, managing $1.6trn of assets. Sauter spearheaded Vanguard's push into exchange-traded funds in 2001. Commenting on his retirement, Bill McNabb, the group's CEO, said: "On behalf of the entire Vanguard family, I thank him for his dedication and service to our clients and our crew. "Under his leadership, Vanguard has an unparalleled record of accomplishment. "The firm has greatly benefited from his values, judgment, investment acum...
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