With a BlackRock CEO, US$9t Vanguard braces for turbulence

John “Jack” Bogle. (Image: Getty)

Fri, 17 May 2024

By Loukia Gyftopoulou and Silla Brush (Bloomberg) -- It’s official at last: the Age of Bogle is over.A half-century after John “Jack” Bogle founded Vanguard Group, the roughly US$9 trillion (NZ$14.7t) fund giant is doing what once would’ve been unthinkable: hiring an outsider as its chief executive officer. And from archrival BlackRock Inc, no less.To many, the House of Bogle handing the reins to Salim Ramji, a longtime BlackRock executive once considered a possible successor to BlackRock chief Larry Fink, sends a c...

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