On Tuesday evening, Vanguard confirmed a report by The Wall Street Journal that a new CEO had been appointed. In a press release, Salim Ramji said he will work closely with management to "lead the company into the future."
Ramji said the investor landscape is changing, and this gives Vanguard an opportunity to reaffirm its mission to give people the best chance for investment success. "My goal is to mobilize Vanguard's capacity to meet the challenges of the times while staying true to our core purpose of being a trusted advocate for all investors," he emphasized.
Nate Geraci, president of #ETF Store, expressed interest in whether Ramji would try, as he did at #BlackRock , to give Vanguard investors access to #cryptocurrencies .
Ramji's selection came as a surprise to many, given the conflicting views on #bitcoin at Vanguard and Ramji's own known enthusiasm for the crypto industry. The appointment sparked lively discussions on social media about a possible change in Vanguard's stance on cryptocurrencies.
In a July 2023 interview with Bloomberg TV, Ramji expressed his admiration for the technology behind bitcoin and blockchain: "We're incredibly excited about this technology because it removes friction across the ecosystem, or at least promises to do so. For us, it's a really powerful framework that piques our interest.
Some were surprised that Vanguard picked an outside CEO for the first time in its history. This indicates that the company may be willing to make significant changes to its business model and strategy.
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