Vanguard is launching a new advice and wealth management division headed by industry veteran Joanna Rotenberg. She will join Vanguard from Fidelity in January 2025 and lead the new division as a managing director and member of the firm’s senior leadership team.
"For nearly five decades, Vanguard has been a positive force in democratizing investing, helping to give tens of millions of investors the best chance for investment success,” Vanguard CEO Salim Ramji said in a statement. “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.”
Rotenberg most recently served as the president of personal investing at Fidelity, leading the company’s retirement, brokerage and wealth management businesses. She also spent over a decade on BMO Financial Group’s executive committee and as a partner at McKinsey & Company, serving clients in wealth and asset management.
“I am humbled by the opportunity to lead the new advice and wealth management group and expand Vanguard’s offerings to help more people achieve investment success,” Rotenberg said in a statement.
In addition to the creation of the new division, Vanguard also announced a series of changes to improve client focus and expand its senior leadership team.
The changes include Matt Benchener, managing director and head of Vanguard’s personal investor business, which currently includes the firm’s wealth management unit, continuing in his role helping Vanguard’s individual direct investors with a focus on digital client experience, brokerage, cash and savings solutions, and education savings.
In addition, John James, current managing director of the institutional investor group, has been named head of workplace and 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.
Lastly, Jon Couture will join Vanguard to succeed Valente as chief human resources officer.
"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,” Ramji said.
