Vanguard Hires Former BlackRock iShares Exec Salim Ramji as CEO
BlackRock’s former global head of iShares and index investments, Salim Ramji, is joining Vanguard as its new CEO and board of directors from July 8.
In an announcement, Vanguard said Ramji will take over from the current CEO Tim Buckley, who announced he would retire and step down from the firm in February this year.
Ramji departed from his position at BlackRock in January 2024 where he was responsible for managing the majority of the firm’s client assets and overseeing the iShares platform. He joined BlackRock over a decade ago and under his tenure, the asset management firm launched the first spot Bitcoin exchange-traded fund for retail investors.
Vanguard is the second largest asset management firm after BlackRock.
Commenting on Ramji’s appointment, Bloomberg Intelligence senior ETF analyst Eric Balchunas said the former BlackRock executive oversaw the filing and logistics of the IBIT ETF and he is known to have an interest in the digital assets space. Vanguard on the other hand is anti-crypto.
And yes, Salim Ramji oversaw the filing and logistics for $IBIT and he has been quoted about his interest in digital assets altho I'm not sure that's gonna change Vanguard's stance but hell he will be the CEO. Who knows.. Door much more open now IMO.
— Eric Balchunas (@EricBalchunas) May 14, 2024
Before joining BlackRock Ramji held the position of senior partner at McKinsey and was responsible for the firm’s asset and wealth management practice. Ramji started his career as a lawyer at Clifford Chance in London and Hong Kong.
“He [Ramji] cares about advancing the interests of individual investors, has a strong fiduciary ethos, and thinks strategically about solutions,” said Buckley, in a press release. “Salim understands our
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