Connect with us

Hi, what are you looking for?


Vanguard Hires Former BlackRock iShares Exec Salim Ramji as CEO

BlackRock’s former global head of iShares and index investments, Salim Ramji, is joining Vanguard as its new CEO and board of directors from July 8.

In an announcement, Vanguard said Ramji will take over from the current CEO Tim Buckley, who announced he would retire and step down from the firm in February this year.

Ramji departed from his position at BlackRock in January 2024 where he was responsible for managing the majority of the firm’s client assets and overseeing the iShares platform. He joined BlackRock over a decade ago and under his tenure, the asset management firm launched the first spot Bitcoin exchange-traded fund for retail investors.

Vanguard is the second largest asset management firm after BlackRock.

BlackRock’s Spot Bitcoin ETF ‘IBIT’

Commenting on Ramji’s appointment, Bloomberg Intelligence senior ETF analyst Eric Balchunas said the former BlackRock executive oversaw the filing and logistics of the IBIT ETF and he is known to have an interest in the digital assets space. Vanguard on the other hand is anti-crypto.

And yes, Salim Ramji oversaw the filing and logistics for $IBIT and he has been quoted about his interest in digital assets altho I’m not sure that’s gonna change Vanguard’s stance but hell he will be the CEO. Who knows.. Door much more open now IMO.

— Eric Balchunas (@EricBalchunas) May 14, 2024

Before joining BlackRock Ramji held the position of senior partner at McKinsey and was responsible for the firm’s asset and wealth management practice. Ramji started his career as a lawyer at Clifford Chance in London and Hong Kong.

“He [Ramji] cares about advancing the interests of individual investors, has a strong fiduciary ethos, and thinks strategically about solutions,” said Buckley, in a press release. “Salim understands our organization’s deep sense of purpose and commitment to put clients first, which is a hallmark of Vanguard’s leadership team and culture,” added Buckley.

“The current investor landscape is changing, and that presents opportunities for Vanguard to further its mission of giving people the best chance for investment success, which is more relevant today than at any time in the firm’s five-decade history,” said Ramji.

Vanguard’s Anti Crypto Stance

In January, Vanguard said it had no immediate plans to add spot Bitcoin ETF to its platforms despite the introduction of such ETFs generating headlines and buzz in the industry.

“Given the current state of crypto as an asset class, Vanguard does not have plans to launch its own bitcoin ETF or any crypto-related products. When deciding what investment products to offer, we consider a range of factors, including whether we believe they have enduring investment merit and meet our client’s needs,” wrote Janel Jackson, Vanguard’s head of ETF Capital Markets and Broker and Index Relations in a note.

“While the discussion about bitcoin and cryptocurrencies, in general, has increased recently, we do not currently believe that there is an appropriate role for them to play in long-term portfolios,” adds Jackson.

The post Vanguard Hires Former BlackRock iShares Exec Salim Ramji as CEO appeared first on Cryptonews.

You May Also Like

Editor's Pick

Real gross domestic product rose at a revised 3.2 percent annualized rate in the third quarter versus a 0.6 percent rate of decline in...

Editor's Pick

For years the North Korean playbook was obvious to the world. The Democratic People’s Republic of Korea wanted to be the center of attention....

Editor's Pick

After the final lecture of my Fall 2022 International Economic Policy course (an undergraduate offering meant to introduce non-economics majors to the economics of...

Editor's Pick

In Risky Business: Why Insurance Markets Fail and What to Do About It (Yale University Press, 2023), economists Liran Einav (Stanford), Amy Finkelstein (MIT),...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024