Vanguard announced on Monday its new Advice and Wealth Management unit aimed at advancing several of its capabilities, headed up by former Fidelity Executive Joanna Rotenberg.
Rotenberg will begin her role as managing director and a member of Vanguard’s senior leadership team starting in January.
“With the addition of Joanna to our leadership team, our goal is to further democratize our advice and wealth management offerings for our clients through enhanced technologies and offers – with the same client zeal that Vanguard has long been known for,” said Vanguard Chief Executive Officer Salim Ramji.
Rotenberg was most recently the president of personal investing at Fidelity, leading the company’s retirement, brokerage, and wealth management businesses. She previously spent over a decade at BMO Financial Group where she was group head of BMO Wealth Management and a member of the executive committee. She provided wealth and asset management solutions to clients across North America, EMEA, and Asia. She started her career as a partner at McKinsey & Company, and as a leader in their North American financial services practice.
Rotenberg holds a juris doctor and master’s degree from the University of Toronto.
“I have always admired Vanguard’s unique structure and client-focused mindset. I am humbled by the opportunity to lead the new Advice & Wealth Management group and expand Vanguard’s offerings to help more people achieve investment success,” said Rotenberg.
In addition to the new division and Rotenberg’s hiring, Vanguard also announced a series of new members to its senior leadership team. These include:
- Matt Benchener, managing director and head of Vanguard’s Personal Investor business, which includes the firm’s wealth management offer, will continue his role in helping Vanguard’s individual direct investors with a focus on digital client experience, brokerage, cash and savings solutions, and education savings.
- John James, current managing director of the Institutional Investor Group, has been named head of Workplace & Advisor Solutions overseeing Vanguard’s intermediated businesses with a focus on deepening relationships with enterprise clients.
- Lauren Valente, managing director and chief human resources officer, has been named head of the Institutional Investor Group.
- Jon Couture, a chief human resources officer who has held several senior leadership positions across the financial services industry, will join Vanguard in December as a managing director and member of the senior leadership team succeeding Valente.
“These changes will allow us to sharpen our client focus, advance our digital capabilities to scale our impact, and add to our strong leadership bench,” added Ramji. “We welcome Joanna and Jon and congratulate John and Lauren on their new responsibilities.”
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