Search Mark
Home / Industry Dynamics

Vanguard CEO Tim Buckley Steps Down From USD 9 Trillion Asset Manager 

Today’s News 

Vanguard's Chief Executive, Tim Buckley, is set to resign at the close of this year, concluding a six-year tenure. 

Image Source: Vanguard on X
Vanguard’s Chief Executive, Tim Buckley, is set to resign at the close of this year, concluding a six-year tenure. 
Image Source: Vanguard on X 

Vanguard’s Chief Executive, Tim Buckley, will be resigning at the end of this year after six years of leadership, coinciding with a period of remarkable growth for the USD 9 trillion asset manager. During his tenure, Vanguard faced scrutiny for its stance on climate change and withdrew from a prominent climate alliance, drawing criticism from progressives and accusations of greenwashing from Australian regulators. 

The search for Buckley’s successor is underway, with Vanguard considering both internal and external candidates. Chief Investment Officer Greg Davis has been promoted to the position of President, assuming additional responsibilities for Vanguard’s retirement business and the division serving financial advisers. 

Under Buckley’s guidance, Vanguard expanded its reach to over 50 million clients, experiencing an 80% growth in assets under management. Despite its success, the company faced challenges, including allegations of influencing American public companies and the controversy surrounding its climate change stance. 

Buckley, a 33-year veteran, played a pivotal role in Vanguard’s international expansion and financial advice services. His departure marks a transition for the company, with Davis, who has been with Vanguard for 24 years, taking on an expanded role as president. 

Mark Loughridge, Vanguard’s lead independent director, commended Buckley for steering the company through a period of growth and innovation. Buckley’s journey at Vanguard began as a research assistant to Jack Bogle, the company’s founder, and he later served as CIO and president before becoming the CEO. 

As the company searches for its next leader, the departure of Tim Buckley signifies a significant change for Vanguard, a stalwart in low-cost index funds and retirement plan offerings. 

Other News

China Expects 0.9% Dip In Home Prices 

A recent Reuters poll forecasts a 0.9% decline in China’s new home prices for 2024, challenging previous expectations of growth. Analysts suggest the property sector may take 1-3 years to stabilize despite government support measures. 

Dinello Appointed CEO Of New York Community Bancorp 

Alessandro Dinello assumes the role of President and CEO at New York Community Bancorp after the resignation of Thomas Cangemi. The company acknowledges internal control weaknesses related to loan review, prompting a 17% share drop in extended trading. 

Record Surge In U.K. Credit Card Complaints 

Credit card complaints in the UK soared to an all-time high, reaching 5,660 from October to December 2023, a 76% YoY increase. Consumers express dissatisfaction with perceived unaffordable lending and soaring interest rates amid economic challenges. 

Share to

Industry Dynamics

Dollar's Surge: Fed's Rate Divergence Sparks Accelerated Rally 

Today’s News  A surge in the value of the U.S. dollar has gained momentum, propelled by contrasting outlooks on interest rates in the United States. This rise comes amidst growing uncertainty regarding the Federal Reserve’s ability to aggressively cut rates this year in comparison to other global central banks. The U.S. dollar index, which gauges […]

2024-4-16 | Industry Dynamics

U.S. Economy Poised For Continued Growth 

Today’s News  The latest Wall Street Journal survey paints a notably optimistic picture of the U.S. economy, with economists revising their growth forecasts upward. The likelihood of a recession in the coming year has dwindled, now standing at 29%, a significant drop from 39% in January.   This marks the lowest probability since April 2022. […]

2024-4-15 | Industry Dynamics

Weekly Economic Calendar For April 15th, 2024 – April 19th, 2024

Weekly Economic Calendar For April 15th, 2024 – April 19th, 2024.

2024-4-12 | Industry Dynamics