Vanguard, one of the world's largest investment management firms, made an important move by appointing former BlackRock executive Salim Ramji as its new CEO and board member, effective July 8.
Vanguard Appoints Bitcoin-Friendly Former BlackRock Executive as CEO
This decision signals a potential shift in the company's attitude towards Bitcoin and digital assets.
Ramji brings 25 years of industry experience to his new role, notably leading BlackRock's global exchange-traded fund (ETF) business and overseeing the launch of the IBIT spot Bitcoin ETF in the US, but left BlackRock earlier this year in search of new leadership opportunities.
Expressing his excitement for his new role, Ramji said, “It is an honor to join Vanguard, an institution I have long admired and respected.”
Ramji emphasized Vanguard's commitment to its mission of delivering investment success and expressed his readiness to lead the company into the future.
Ramji's appointment comes as Vanguard's current Chairman and CEO, Tim Buckley, prepares for retirement.
In his statement, Buckley praised Ramji's commitment to investors and strategic thinking, emphasizing his alignment with Vanguard's core values.
This move is particularly notable given Vanguard's historical stance on Bitcoin.
The firm had previously refrained from offering US spot Bitcoin ETFs to brokerage account users, citing high volatility concerns. But Ramji's appointment raises speculation about a potential shift in Vanguard's approach to digital assets.
*This is not investment advice.
