Vanguard’s European head of investment strategy to retire

Vanguard’s European head of investment strategy to retire

Vanguard’s European head of investment strategy and chief economist Peter Westaway will retire at the end of March.

Westaway is stepping away after a decade in his senior executive role for Europe.

As European head of Vanguard's investment strategy group, Westaway's views have influenced the allocation of the company's funds - most notably the £36bn Lifestrategy range.

He will be succeeded by Jumana Saleheen who will be based in London and will officially transition into Westaway’s role on April 1. 

Vanguard said Saleheen had a wealth of experience having recently served as the chief economist and head of sustainability at CRU, an economics consultancy in London. 

Saleheen also held several senior roles at the Bank of England between 2008 and 2018, including head of division in the financial stability and international directorates. 

She received her PhD in economics from University College London, and her BSc and MSc from the London School of Economics.

Vanguard said over his time with the company, Westaway’s wealth of macroeconomics and policy making experience has served its clients globally. 

“He has also built and developed an extremely strong and talented ISG team in Europe,” the firm said. 

“Vanguard would like to take this opportunity to thank Peter for a decade of service to the company and our clients, and we wish him all the very best in his future endeavours.”

In October, Westaway said the company is "dialling down" the home bias in its Lifestrategy range.

At the time, he said this was being done in part because of the changing "commercial case" surrounding the issue.

The Lifestrategy range has traditionally had a much larger exposure to the UK than the rest of the market.

At the moment the Vanguard Lifestrategy 100% Equity fund has a 22 per cent exposure to the UK, while the Investment Association Global sector has a 7.3 per cent exposure to the UK.

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