TIM Buckley has just been handed the keys to the house that Bogle built. But Buckley, Vanguard Group’s new president, confronts something that founder Jack Bogle never did back in his prime: a world in which cheap market-tracking index funds are everywhere.
Buckley, 48, was tapped late Thursday to run the world’s second-largest money manager, which oversees US$4.4 trillion and is responsible for the savings of more than 20 million investors. He has a Vanguard pedigree. The Harvard MBA joined Vanguard in 1991 as an assistant to Bogle and rose through the ranks, overseeing first its technology operations and then its core retail unit.
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