Vanguard is launching a brand new recommendation and wealth administration division headed by trade veteran Joanna Rotenberg. She will be a part of Vanguard from Constancy in January 2025 and lead the brand new division as a managing director and member of the agency’s senior management workforce.
“For almost 5 many years, Vanguard has been a constructive power in democratizing investing, serving to to provide tens of tens of millions of buyers one of the best probability for funding success,” Vanguard CEO Salim Ramji mentioned in an announcement. “With the addition of Joanna to our management workforce, our purpose is to additional democratize our recommendation and wealth administration choices for our shoppers via enhanced applied sciences and gives—with the identical shopper zeal that Vanguard has lengthy been identified for.”
Rotenberg most lately served because the president of private investing at Constancy, main the corporate’s retirement, brokerage and wealth administration companies. She additionally spent over a decade on BMO Monetary Group’s government committee and as a companion at McKinsey & Firm, serving shoppers in wealth and asset administration.
“I’m humbled by the chance to steer the brand new recommendation and wealth administration group and broaden Vanguard’s choices to assist extra individuals obtain funding success,” Rotenberg mentioned in an announcement.
Along with the creation of the brand new division, Vanguard additionally introduced a collection of modifications to enhance shopper focus and broaden its senior management workforce.
The modifications embrace Matt Benchener, managing director and head of Vanguard’s private investor enterprise, which at present contains the agency’s wealth administration unit, persevering with in his function serving to Vanguard’s particular person direct buyers with a deal with digital shopper expertise, brokerage, money and financial savings options, and training financial savings.
As well as, John James, present managing director of the institutional investor group, has been named head of office and advisor options overseeing Vanguard’s intermediated companies with a deal with deepening relationships with enterprise shoppers.
Lauren Valente, managing director and chief human assets officer, has been named head of the institutional investor group.
Lastly, Jon Couture will be a part of Vanguard to succeed Valente as chief human assets officer.
“These modifications will permit us to sharpen our shopper focus, advance our digital capabilities to scale our impression, and add to our robust management bench,” Ramji mentioned.
