This is a YouTube video titled "New Vanguard CEO #money #investing #investment #invest #investor #vanguard" containing a monologue discussing the appointment of Salim Ramji as Vanguard's new CEO, highlighting his background at BlackRock and addressing concerns about leadership changes at Vanguard. The speaker provides context on CEO tenure and reassures viewers about the company's future direction. The content was created in August 2024.
The new Vanguard CEO is a former BlackRock executive. His name is Salim Ramji. He's actually Vanguard's first ever external hire for the position. Vanguard's always promoted from within and so that's a little bit unique for them. I don't know necessarily what his focus is going to be, but he certainly has experience in running a large organization with lots of ETF money. I don't view BlackRock as like a bad company. Right. They're a good company. One of the good guys out there and somebody that was doing well there is now coming to Vanguard and hopefully will do well there. So I don't think this is bad news. Like people panic all the time about change. I mean, how long do you want a CEO to stay at Vanguard? Like 50 years. It's just not going to happen. That's not how CEOs work. They're there for 5ish years, 10 years maybe. And then you go on to a new CEO. That's just the way careers work. People retire, they move on to something else, whatever. It's okay to have new CEO. You don't need to move your money away from Vanguard because they hired a new CEO for Grind Out Loud.
