Investing
With a BlackRock CEO, $9 Trillion Vanguard Braces for Turbulence
The index fund giant has reached a crossroads. Can an outsider fix the house Bogle built?
John Bogle
Photographer: Scott Eells/Bloomberg
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It’s official at last: the Age of Bogle is over.
A half-century after John “Jack” Bogle founded Vanguard Group, the roughly $9 trillion fund giant is doing what once would’ve been unthinkable: hiring an outsider as its chief executive officer. And from archrival BlackRock Inc., no less.