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Tuesday, June 13, 2017

Watch For Vanguard to Staff Up Here

News summary by MFWire's editors

Bill McNabb could be staffing up in a big way in this Southeastern city.

McNabb, CEO of Vanguard [profile], tells the Charlotte Observer that over the next three years the low-cost mutual fund giant may add hundreds of employees in Charlotte, North Carolina. Vanguard has about 15,000 employees worldwide, including 1,700 in Charlotte already. And McNabb says he's been "aggressively" hiring around the world, including in Scottsdale, Arizona and in Vanguard's hometown of Malvern, Pennsylvania.

McNabb declined to give the local paper specifics about how many jobs Vanguard will be adding in the area. Yet he confirmed that a key area they're hiring to support is "full advisory relationship" services for investors. He also praises Charlotte as a banking and tech hub.

"A lot of the most important developments that are happening from a technology standpoint have been led out of Charlotte. We've found this to be a great area to attract really high-quality IT talent," McNabb tells the paper. "IT development is still really robust here ... and continuing to grow."

Oh, and Vanguard had about $4 trillion in AUM as of December 31. That works out to about $267 million per employee. 

Edited by: Neil Anderson, Managing Editor


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