Vanguard investment chief steps down
Vanguard chief investment officer Gus Sauter is to retire at the end of the year, after a 25-year career at the US asset management giant.
Sauter is responsible for managing Vanguard’s global investment management groups that oversee $1.6 trillion in assets, he will be replaced by managing director Tim Buckley.
Bill McNabb, chief executive of Vanguard, thanked Sauter for his “dedication and service”, adding: “Under his leadership, Vanguard has emerged as a world-class investment management firm with an unparalleled level of accomplishment.”
Sauter was responsible for leading Vanguard’s launch into the exchange-traded fund (ETF) market in the US and was the asset manager’s first chief investment officer. (article continues below)
Buckley joined Vanguard in 1991 as assistant to then chairman John Bogle and had been a member of Vanguard senior staff since 2001.
McNabb says: “Tim Buckley has a strong commitment to the Vanguard way of investing, a keen intellect, and a passion for serving Vanguard clients. He will a deep, talented group of more than 300 highly experienced equity, fixed income, risk management and investment strategy professionals who oversee Vanguard portfolios on behalf of clients around the globe.”
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