• Tim Buckley will retire from his role as Chairman and Chief Executive Officer by the end of 2024.
• During his tenure at Vanguard, Buckley has driven significant innovation and accomplishment across a range of senior roles.
• Chief Investment Officer, Greg Davis, has been appointed to the role of President of the firm.

After a dynamic and highly successful tenure as CEO and more than three decades of distinguished Vanguard service, Tim Buckley has decided to retire from his role as Chairman and Chief Executive Officer by the end of 2024. Further, Vanguard’s Chief Investment Officer (CIO) Greg Davis has been appointed to the additional role of President of the firm, effective immediately.

On his decision to retire as CEO, Buckley said, “Thirty-three years ago, I was lucky to join a company that believed in giving investors a fair shake as they saved for retirement, for their kids' college education or for their dream home. In my seventh year as CEO, we have scaled our mission to more than 50 million investors, and our team is just getting started. I have been passionate about developing the next generation of leaders, and I look forward to those leaders elevating Vanguard to new heights. It has been an absolute privilege to lead Vanguard and help advance the company’s mission of giving clients the best chance for investment success. Today, Vanguard is poised to seize the opportunities of the future while continuing to deliver for our investors.”

During his tenure at Vanguard, Buckley has driven significant innovation and accomplishment across a range of senior roles. He joined Vanguard in 1991 as founder John Bogle’s research assistant, where he learned first-hand the founding principles of the company. Buckley became a member of Vanguard’s senior leadership team in 2001 as head of Vanguard’s Information Technology division. He subsequently led the Personal Investor division through a period of significant growth and then served as Chief Investment Officer before being named CEO in 2018. He was appointed Chairman in 2019.

Greg Davis’ role expanded to President and CIO

In his expanded role as both President and CIO, Greg Davis will be responsible for all aspects of the firm’s investment management, retirement business and services for financial adviser clients, overseeing the majority of Vanguard’s fund and ETF distribution. With his expanded remit, he will also continue to advocate for policies for the betterment of the capital markets and help ensure more investors have the access and ability to save for a secure future.

Commenting on Davis’s appointment, Buckley said, “Having worked closely with Greg for more than a decade, I am confident he will effectively leverage his deep investment expertise and partner with our senior team to help accelerate our business and uphold Vanguard’s passionate focus on our investors. Greg has an outstanding record of delivering for our clients - through fund performance, by championing innovation across our product line-up and through industry-leading thought leadership. He is a well-respected leader in our industry who is frequently sought out by policy makers and who advocates for regulatory changes to benefit everyday investors.”

Davis commented, “Understanding client needs has always been critical to Vanguard’s success. I am excited to serve Vanguard in this expanded role, working to ensure that our investment teams are even more proximate to the client voice and that we enhance our efforts within the industry and with policymakers to advance investor interests.”

Vanguard’s Board of Directors has initiated a comprehensive process to select a new CEO, evaluating both internal and external candidates. 

Investment risk information

The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.

Important information

For professional investors only (as defined under the MiFID II Directive) investing for their own account (including management companies (fund of funds) and professional clients investing on behalf of their discretionary clients). In Switzerland for professional investors only. Not to be distributed to the public.

The information contained herein is not to be regarded as an offer to buy or sell or the solicitation of any offer to buy or sell securities in any jurisdiction where such an offer or solicitation is against the law, or to anyone to whom it is unlawful to make such an offer or solicitation, or if the person making the offer or solicitation is not qualified to do so. The information does not constitute legal, tax, or investment advice. You must not, therefore, rely on it when making any investment decisions. 

The information contained herein is for educational purposes only and is not a recommendation or solicitation to buy or sell investments.

Issued in EEA by Vanguard Group (Ireland) Limited which is regulated in Ireland by the Central Bank of Ireland.

Issued in Switzerland by Vanguard Investments Switzerland GmbH.

Issued by Vanguard Asset Management, Limited which is authorised and regulated in the UK by the Financial Conduct Authority.

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© 2024 Vanguard Asset Management, Limited. All rights reserved.