Vanguard announced that Karin Risi, one of its most senior executives, will retire at the end of 2024 after an impressive 27-year tenure at the global asset management giant.
Risi currently serves as managing director and oversees strategy, product development, marketing, and communications—responsibilities that will be divided among other leaders within Vanguard, according to an individual familiar with the transition.
Her retirement comes amidst broader changes in Vanguard’s leadership. Earlier this year, Tim Buckley, the firm’s CEO, announced his departure, paving the way for Salim Ramji to become the company’s first external CEO. Ramji, a former BlackRock executive, is poised to guide Vanguard through its next phase of growth. Buckley, meanwhile, has joined Pfizer’s board of directors, marking a new chapter in his career.
Throughout her career, Risi has been instrumental in shaping Vanguard’s global strategy and reputation. The company credits her with expanding its suite of investment products, enhancing its brand presence, and leading efforts to democratize financial advice.
“Karin has been a cornerstone of Vanguard’s leadership team, and her contributions have been transformative,” said Ramji in a statement. “Her vision and execution were pivotal in developing our Personal Advisor services, making high-quality financial advice accessible to millions of investors. She also played a key role in growing our portfolio of more than 400 mutual funds and ETFs to meet evolving client needs. Her wisdom and guidance at our executive table will be deeply missed.”
Risi’s journey with Vanguard began in 1997 when she joined as an investment analyst. She became a member of the senior leadership team in 2015, assuming the role of managing director for Vanguard Personal Investor. In this capacity, she was responsible for business strategy, client experience, and wealth management services for individual investors—a significant leadership role that underscored her commitment to innovation and client-centric solutions.
Vanguard, which manages assets for over 50 million individual investors globally, is one of the most influential firms in the wealth management industry. Risi’s work has been recognized far beyond Vanguard; she was named among Barron’s 100 Most Influential Women in Finance for 2024.
Reflecting on her tenure, Risi expressed pride in her contributions and optimism for the future. “Serving as a leader at Vanguard for nearly three decades has been the honor of a lifetime,” she said. “I’m proud to have played a role in developing a new generation of leaders, advancing Vanguard’s mission, and providing millions of investors with access to high-quality products and affordable advice. I look forward to the next chapter with gratitude for all we’ve accomplished.”
Risi’s leadership and strategic initiatives have left an indelible mark on Vanguard and the financial services industry at large. Her departure signals not only the end of an era but also an opportunity for Vanguard to build upon the foundation she helped create.
