Vanguard CEO Buckley to add role of chairman

The Vanguard Group announced that its CEO, Tim Buckley, will take on the additional role of chairman of the $5.3 trillion asset management company on Jan. 1. As chairman, he succeeds Bill McNabb. "Tim has been a strong, focused leader at Vanguard during times of tremendous company growth, as well as periods of significant market uncertainty," Mr. McNabb said. "The board of directors and I have tremendous confidence in his ability to lead Vanguard through this next chapter for the firm." Mr. Buckley was appointed CEO of Vanguard in January 2018 after serving as its chief investment officer from 2013 to 2017, as head of its retail investor group from 2006 to 2012, and as chief information officer from 2001 to 2006. He joined Vanguard in 1991. Mr. McNabb had stepped down as Vanguard's CEO at the end of last year. He had served as Vanguard's chairman since 2010 and as CEO since 2008. He joined Vanguard in 1986. (More: Vanguard exec: Investors should look for 'the catch' in Fidelity's no-fee funds)