Wealth Management

Vanguard spins out $900bn wealth business in major overhaul

New CEO Salim Ramji redoubles efforts to crack the wealth market

Vanguard’s new CEO has launched a major restructuring of the business Hannah Beier/Bloomberg via Getty Images
Vanguard’s new CEO has launched a major restructuring of the business Hannah Beier/Bloomberg via Getty Images Photo: Bloomberg via Getty Images

Vanguard will spin out its wealth and advice operation into a standalone division as the passives giant looks to grab a bigger slice of the wealth market.

The move represents the $10tn asset manager’s largest restructuring in more than a decade. It marks a major shift under new chief executive officer Salim Ramji, who took the helm in May.

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