Vanguard Prepares to Tap Former BlackRock Executive as CEO: WSJ

Vanguard Group is preparing to name a former BlackRock executive as its next leader, putting an outsider in charge of the asset manager for the first time in its roughly 50-year history.

Salim Ramji —who led BlackRock’s exchange-traded funds and index investing until earlier this year—is expected to be named Vanguard’s chief executive officer soon, people familiar with the matter said, assuming the company doesn’t change course at the last minute.

Ramji left BlackRock in January after about a decade.