Bill McNabb just put three Vanguard [profile] veterans in charge of three key channels at the low-cost mutual fund giant.

McNabb, CEO of Vanguard, confirms that Tom Rampulla will lead the Valley Forge, Pennsylvania-based based shop's financial advisor services division and that Karin Risi will lead the retail investor group. Rampulla most recently served as managing director of Vanguard Europe and Risi most recently served as principal of Vangaurd's advice services group. Both report to McNabb himself.

Rampulla succeeds Martha King, who will take over Vanguard's institutional investor group from Chris McIsaac. McIsaac, in turn, is taking over Vanguard's planning and development division from Michael Miller, who is retiring mid-year. Miller joined in 1996.

Risi replaces Paul Heller, who will retire at the end of the year. He joined 31 years ago.

InvestmentNews, Reuters, and RIABiz all reported on the reorg.

The retail investor group now led by Risi has $1.26 trillion of Vanguard's $3 trillion in assets and more than six million clients. The financial advisor services division now led by Rampulla works with more than 1,000 financial advisory firms who advise more than $1 trillion in assets.

Rampulla, an alumnus of Bloomsburg University and Drexel University, joined Vanguard in 1988. At Vanguard he's worked in finance, fixed income, institutional sales and marketing, and stable value portfolio management.

Risi is an alumnus of Villonova who started at Vanguard in 1997. At Vanguard she has worked in portfolio review, corporate strategy, financial advisor services, and the institutional investor group. 

Correction: A prior version of this story gave the wrong timing for the planned retirement of Paul Heller. He will retire at the end of 2015.

Edited by: Neil Anderson, Managing Editor


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