replacement isn't planning to shake things up at Vanguard
Morningstar's Dan Culloton scored an interview
with CIO-elect Tim Buckley
, who's set to take over Vanguard's top investment position when Sauter retires at the end of the year.
Buckley, who was Vanguard's chief information officer until 2006 and since has managed the firm's retail investment group, has never worked as a PM or a securities analyst, and Culloton wants to know how he views the CIO job he's taking. Buckley says it's more of a "leadership role," and a protector of the Vanguard way -- long-term, low cost offerings.
Buckley talks a bit about what Vanguard has planned. With the TIPS fund off the lot, Buckley says Vanguard is prepping international bond and international emerging markets bond funds. He's highly skeptical of active ETFs, saying, "on the active side, I worry about transparency and about capacity."
Finally, there's this exchange:
Q: What job of the many that you've had within Vanguard prepared you most for being CIO?
A: Being CIO before. Gus likes the joke that I am the only guy in the industry that has been CIO twice: on the information side and the investment side.
See the full interview here.
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