The board of the Vanguard Group has announced CIO Tim Buckley will become the firm's fourth CEO since it was founded in 1975, as Bill McNabb steps down as chief executive next year.
McNabb, who joined Vanguard in 1986, has been chief executive since 2008 and will remain as chairman of the board. There will be a six-month transition period with Buckley taking over on 1 January 2018....
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Consequences could be more severe than in stress tests
Move to variable operating expenses
Set to happen on 4 April