Vanguard Appoints Global Chief Risk Officer and New Equity Indexing Leader
12 September 2018 | Topical insights
Joseph P. Brennan, a long-tenured Vanguard executive, has been appointed to a newly created position as Vanguard’s Global Chief Risk Officer, reporting to Vanguard CEO Tim Buckley.
In his new role, Mr. Brennan will assume responsibility for the firm’s current enterprise risk management organization, in addition to all facets of enterprise security and investment risk management.
“We believe centralizing our risk management functions under a single senior leader will benefit both our clients and Vanguard. Joe’s vast and varied investment management and leadership experience both in the U.S. and abroad make him the ideal candidate to integrate and enhance our capable and strong global risk management teams,” said Mr. Buckley.
Mr. Brennan joined Vanguard in 1991 and worked as an analyst and trader in Vanguard Fixed Income Group. He then moved to Vanguard Portfolio Review Department, which is primarily responsible for investment manager search and oversight, eventually leading the group for five years. In 2009, he was named chief investment officer of the Asia Pacific region and served on the senior leadership team of Vanguard Australia. In 2013, he assumed responsibility for Vanguard Equity Index Group.
Mr. Brennan earned a B.A. in economics from Fairfield University and an M.S. in finance from Drexel University. A graduate of Harvard Business School’s Advanced Management Program, he is a CFA® charterholder and is a member of the CFA Society of Philadelphia.
Mr. Brennan’s current role as head of Vanguard Equity Index Group, which oversees $3.1 trillion in fund assets, will be assumed by Rodney Comegys, principal and head of the Risk Management Group within Vanguard Investment Management Group, responsible for risk analysis oversight for the Fixed Income, Equity Index, and Quantitative Equity groups.
“Rodney has been integral in building a world-class investment management function and team, and now he will have the opportunity to lead Vanguard’s largest investment group,” said Mr. Buckley. “His deep knowledge of our investment and trading systems and processes, along with his understanding of the markets and market structure, will serve him well in his new role.”
Previously, Mr. Comegys was head of investments, Asia Pacific, and head of Equity Index Group, Asia Pacific. His former roles include leading Vanguard Index Analysis and ETF Trading teams, and heading the Global Broker Relations team. As a member of Vanguard’s investment management team for the past ten years, Mr. Comegys played a key role in expanding Vanguard's international business, launching new products, and building processes and technology for Vanguard’s equity management and trading systems.
Before joining Vanguard in 1999, Mr. Comegys was a U.S. Navy nuclear submarine officer. He earned a B.S. in engineering and an M.Sc. in regional science economics from the University of Pennsylvania, and an M.B.A. from Harvard Business School.
All asset figures are as of August 31, 2018.
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