👉👉👉 Vanguard Hires Former #BlackRock iShares Exec Salim Ramji as CEO

Salim Ramji, the former global head of iShares and index investments at BlackRock, is set to assume the role of CEO and board member at Vanguard starting July 8.

Vanguard's announcement comes as current CEO Tim Buckley, who disclosed his retirement plans in February, prepares to step down.

Ramji brings a wealth of experience from his tenure at BlackRock, where he managed a significant portion of the firm's client assets and oversaw the iShares platform. Notably, during his time at BlackRock, the asset management giant launched the pioneering spot Bitcoin exchange-traded fund (ETF) for retail investors.

Vanguard, the second-largest asset management firm following BlackRock, is poised to benefit from Ramji's expertise as it navigates through leadership transitions.

Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, noted Ramji's role in managing the filing and logistics of BlackRock's spot #BitcoinETF💰💰💰 . Ramji's interest in digital assets stands in contrast to Vanguard's cautious stance on cryptocurrencies.

Prior to his tenure at BlackRock, Ramji served as a senior partner at McKinsey, where he spearheaded the asset and wealth management practice. His career began as a lawyer at Clifford Chance in London and Hong Kong.

In a press release, Buckley expressed confidence in Ramji's alignment with Vanguard's values and strategic vision, emphasizing the commitment to providing investors with optimal opportunities in today's evolving market.

Vanguard has been cautious regarding cryptocurrencies, stating in January that it had no immediate plans for a spot Bitcoin ETF. Janel Jackson, Vanguard's head of ETF Capital Markets and Broker and Index Relations, highlighted the firm's careful approach, prioritizing enduring merit and client needs.

Vanguard remains cautious about including #cryptocurrencies in long-term investment portfolios, citing concerns about their role and enduring value.

Source - cryptonews.com