Vanguard’s Thomas Rampulla is to head back to the US after seven years heading up the passive behemoth’s UK business.
The Pennsylvania-based group said Mr Rampulla would be returning to the US to head its $1trn (£663bn) Financial Advisor Services division by mid-year. He will also join Vanguard’s senior executive team and report directly to chief excecutive Bill McNabb.
John James, managing director of Vanguard Australia, will lead the UK and European operations now. His current role will be taken on by Colin Kelton.
James Norris, managing director of Vanguard International, said Mr Rampulla had made a “tremendous effort” during his time in the UK.
“Under his leadership, we have built and navigated the business through significant industry change, including the UK’s RDR, which Vanguard has relentlessly championed for in the long-term interest of investors.
“Vanguard’s European operations now have more than $90bn in assets under management and we are successfully exporting our proposition across Europe as a low-cost, high-value provider of investments and services.”
Mr. Rampulla joined Vanguard in 1988 and has held various positions, including in its financial division, fixed income group and institutional sales and marketing.
