Vanguard Hires Former BlackRock iShares Exec Salim Ramji as CEO

Vanguard has made a significant new hire, bringing former BlackRock iShares executive Salim Ramji on board as its CEO and a member of the board of directors, effective July 8. Ramji was previously the global head of iShares and index investments at BlackRock, where he oversaw the management of the firm’s client assets and the iShares platform. During his tenure, BlackRock launched the first spot Bitcoin exchange-traded fund for retail investors. Vanguard, the second largest asset management firm after BlackRock, has traditionally been anti-crypto, while Ramji has shown interest in the digital assets space. This appointment has raised speculation that Vanguard’s stance on cryptocurrencies may shift under Ramji’s leadership. Prior to his time at BlackRock, Ramji held senior positions at McKinsey and Clifford Chance, where he focused on asset and wealth management. Current CEO Tim Buckley, who announced his retirement earlier this year, expressed confidence in Ramji’s ability to advance the interests of individual investors and uphold Vanguard’s fiduciary ethos. Ramji is excited to lead Vanguard during a time of changing investor landscapes and aims to further the firm’s mission of providing investment success for its clients.