Vanguard has announced a management reshuffle, as it looks to expand its distribution in the UK.
The fund giant's European head is moving to the US.
John James has been European head of Vanguard since March 2015 after moving from the company’s Australian division.
He will move to the company’s US headquarters to lead its human resources division and will be replaced by Sean Hagerty.
Mr Hagerty is currently principal and global head of Vanguard’s portfolio review department.
James Norris, head of Vanguard’s international business, said: “We are pleased to welcome Sean to Vanguard’s international leadership team.
“He is a Vanguard veteran with a broad range of experience, including sales, marketing, strategy, product development, and investment manager oversight.
“Sean is well suited to lead Vanguard’s European operations, which has more than $116bn (£89bn) in assets under management as at the end of August 2016.”
Mr Hagerty joined Vanguard in 1997 and is currently responsible for overseeing the company’s global fund range, assessing performance and portfolio consistency and monitoring its internal equity and fixed income managers.
Mr James is replacing Kathleen Gubanich, who will be retiring at the end of the year after a 30-year career at Vanguard.
He said: ““It is extremely humbling to be asked to lead Vanguard’s global human resources division and to join the firm’s senior leadership team.
“I am delighted that Sean has agreed to help lead the next chapter of our growth in Europe with exciting plans in place to expand our distribution capabilities and geographical footprint.”
