Vanguard Names Former BlackRock Executive as CEO.

Vanguard Group, a major asset manager, has appointed Salim Ramji, a former executive at BlackRock, as its new CEO. This marks the first time an outsider has been chosen to lead Vanguard in its 50-year history. Ramji, who previously led BlackRock's exchange-traded funds and index investing, will assume the role in July. Vanguard is known for its low-cost index funds and is seeking to expand into the financial advice business. Ramji's appointment comes after the departure of CEO Mortimer J. "Tim" Buckley. [Extracted from the article]