Vanguard Appoints Former BlackRock Executive Salim Ramji as New CEO

Vanguard made waves in the digital asset sector, naming Salim Ramji, a former BlackRock executive, who oversaw the launch of the asset management firm’s Bitcoin Exchange-Traded Fund (ETF), as its new CEO.

Ramji left BlackRock in January 2024, expressing his desire to seek new leadership. He’d played a crucial role in the launch of BlackRock’s iShares Bitcoin Trust (IBIT), which he oversaw from filing to logistics.

Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, highlighted Ramji’s interest in digital assets, speculating on potential changes in Vanguard’s stance under his leadership.

The Wall Street Journal first reported Ramji’s appointment, which was later confirmed by Vanguard through a press release.

In his statement, Ramji expressed his commitment to leading Vanguard into the future, emphasizing the changing investor landscape and the firm’s mission to ensure investment success for all, while adding:

“My focus will be to mobilize Vanguard to meet the moment while staying true to the core purpose—remaining the trusted firm that takes a stand for all investors.”

Ramji’s appointment has raised eyebrows due to Vanguard’s historically cautious approach to Bitcoin. However, his yearning interest in digital assets has fueled speculation that Vanguard might reconsider its stance.

In a July 2023 interview on Bloomberg TV, Ramji emphasized the potential of blockchain technology to remove friction within the financial system, highlighting Vanguard’s interest in the underlying technology of cryptocurrencies.

If confirmed, Ramji’s appointment would mark the first time Vanguard has hired a CEO from outside the company.