“We believe centralizing our risk management functions under a single senior leader will benefit both our clients and Vanguard. Joe’s vast and varied investment management and leadership experience both in the U.S. and abroad make him the ideal candidate to integrate and enhance our capable and strong global risk management teams,” said Buckley.

Brennan joined Vanguard in 1991 and worked as an analyst and trader in Vanguard’s Fixed Income Group. He then moved to Vanguard’s Portfolio Review Department, which is primarily responsible for investment manager search and oversight, eventually leading the group for 5 years. In 2009, he was named chief investment officer of the Asia Pacific region and served on the senior leadership team of Vanguard Australia. In 2013, he assumed responsibility for Vanguard’s Equity Index Group.

Brennan earned a B.A. in economics from Fairfield University and an M.S. in finance from Drexel University. A graduate of Harvard Business School’s Advanced Management Program, he is a CFA® charterholder and is a member of the CFA Society of Philadelphia.

Brennan’s current role as head of Vanguard’s Equity Index Group, which oversees $3.1 trillion in 319 mutual funds and ETFs, will be assumed by Rodney Comegys, principal and head of the Risk Management Group within Vanguard Investment Management Group, responsible for risk analysis oversight for the Fixed Income, Equity Index, and Quantitative Equity groups.

“Rodney has been integral in building a world-class investment management function and team, and now he will have the opportunity to lead Vanguard’s largest investment group,” said Buckley. “His deep knowledge of our investment and trading systems and processes, along with his understanding of the markets and market structure, will serve him well in his new role.”

Previously, Comegys was head of investments, Asia Pacific, and head of Equity Index Group, Asia Pacific. His former roles include leading Vanguard’s Index Analysis and ETF Trading teams, and heading the Global Broker Relations team. As a member of Vanguard’s investment management team for the past ten years, Comegys played a key role in expanding Vanguard’s international business, launching new ETFs, and building processes and technology for Vanguard’s equity management and trading systems.

Before joining Vanguard in 1999, Comegys was a U.S. Navy nuclear submarine officer. He earned a B.S. in engineering and a M.Sc. in regional science economics from the University of Pennsylvania, and an M.B.A. from Harvard Business School.

Notes:

All asset figures are as of August 31, 2018.

All investing is subject to risk, including the possible loss of the money you invest. 

Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large
aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling. 

For more information about Vanguard funds and ETFs, visit vanguard.com or call 800-662-7447 to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing. 

Vanguard Marketing Corporation, Distributor.