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After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

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\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

See Related: <\/em><\/strong>Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO<\/a><\/p>\n\n\n\n

Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Jonathan McKernan, an FDIC director, highlighted the risks posed by concentrated ownership among institutional investors. He emphasized that the agreement should reassure critics and ensure that Vanguard adheres to its role as a passive investor.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO<\/a><\/p>\n\n\n\n

Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The deal allows<\/a> the FDIC to monitor Vanguard's investment activities in FDIC-regulated banks closely, particularly informal interactions with bank management. By explicitly restricting Vanguard from influencing bank policies or operations, the agreement aims to address concerns raised by academics and regulators about the growing power of asset management giants like Vanguard and BlackRock.<\/p>\n\n\n\n

Jonathan McKernan, an FDIC director, highlighted the risks posed by concentrated ownership among institutional investors. He emphasized that the agreement should reassure critics and ensure that Vanguard adheres to its role as a passive investor.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO<\/a><\/p>\n\n\n\n

Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Vanguard agreed to a new deal with the US Federal Deposit Insurance Corporation (FDIC) to ensure its investments in large banks remain strictly passive. According to a report by Reuters<\/em>, the agreement, made public on Friday, aims to mitigate concerns about concentrated ownership and its impact on competition in the financial sector.<\/p>\n\n\n\n

The deal allows<\/a> the FDIC to monitor Vanguard's investment activities in FDIC-regulated banks closely, particularly informal interactions with bank management. By explicitly restricting Vanguard from influencing bank policies or operations, the agreement aims to address concerns raised by academics and regulators about the growing power of asset management giants like Vanguard and BlackRock.<\/p>\n\n\n\n

Jonathan McKernan, an FDIC director, highlighted the risks posed by concentrated ownership among institutional investors. He emphasized that the agreement should reassure critics and ensure that Vanguard adheres to its role as a passive investor.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO<\/a><\/p>\n\n\n\n

Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

\"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

\"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
  • It encompasses the interactions with bank management to prevent any undue influence on bank policies or operations.<\/li>\n<\/ul>\n\n\n\n

    Vanguard agreed to a new deal with the US Federal Deposit Insurance Corporation (FDIC) to ensure its investments in large banks remain strictly passive. According to a report by Reuters<\/em>, the agreement, made public on Friday, aims to mitigate concerns about concentrated ownership and its impact on competition in the financial sector.<\/p>\n\n\n\n

    The deal allows<\/a> the FDIC to monitor Vanguard's investment activities in FDIC-regulated banks closely, particularly informal interactions with bank management. By explicitly restricting Vanguard from influencing bank policies or operations, the agreement aims to address concerns raised by academics and regulators about the growing power of asset management giants like Vanguard and BlackRock.<\/p>\n\n\n\n

    Jonathan McKernan, an FDIC director, highlighted the risks posed by concentrated ownership among institutional investors. He emphasized that the agreement should reassure critics and ensure that Vanguard adheres to its role as a passive investor.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO<\/a><\/p>\n\n\n\n

    Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

    The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

    Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

    This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

    The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

    Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

    Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

    See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

    But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

    Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

    Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

    \"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

    After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

    \"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
    \n
  • The agreement enables the FDIC to monitor Vanguard's investment activities in FDIC-regulated banks.<\/li>\n\n\n\n
  • It encompasses the interactions with bank management to prevent any undue influence on bank policies or operations.<\/li>\n<\/ul>\n\n\n\n

    Vanguard agreed to a new deal with the US Federal Deposit Insurance Corporation (FDIC) to ensure its investments in large banks remain strictly passive. According to a report by Reuters<\/em>, the agreement, made public on Friday, aims to mitigate concerns about concentrated ownership and its impact on competition in the financial sector.<\/p>\n\n\n\n

    The deal allows<\/a> the FDIC to monitor Vanguard's investment activities in FDIC-regulated banks closely, particularly informal interactions with bank management. By explicitly restricting Vanguard from influencing bank policies or operations, the agreement aims to address concerns raised by academics and regulators about the growing power of asset management giants like Vanguard and BlackRock.<\/p>\n\n\n\n

    Jonathan McKernan, an FDIC director, highlighted the risks posed by concentrated ownership among institutional investors. He emphasized that the agreement should reassure critics and ensure that Vanguard adheres to its role as a passive investor.<\/p>\n\n\n\n

    See Related: <\/em><\/strong>Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO<\/a><\/p>\n\n\n\n

    Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

    The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

    Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

    This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

    The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

    Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

    \nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

    Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

    See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

    But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

    Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

    Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

    \"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

    After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

    \"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

    Most Read

    Subscribe To Our Newsletter

    By subscribing, you agree with our privacy and terms.

    Follow The Distributed

    Twitter Instagram Youtube LinkedIn Facebook RSS
    ADVERTISEMENT
    \n
      \n
    • The agreement enables the FDIC to monitor Vanguard's investment activities in FDIC-regulated banks.<\/li>\n\n\n\n
    • It encompasses the interactions with bank management to prevent any undue influence on bank policies or operations.<\/li>\n<\/ul>\n\n\n\n

      Vanguard agreed to a new deal with the US Federal Deposit Insurance Corporation (FDIC) to ensure its investments in large banks remain strictly passive. According to a report by Reuters<\/em>, the agreement, made public on Friday, aims to mitigate concerns about concentrated ownership and its impact on competition in the financial sector.<\/p>\n\n\n\n

      The deal allows<\/a> the FDIC to monitor Vanguard's investment activities in FDIC-regulated banks closely, particularly informal interactions with bank management. By explicitly restricting Vanguard from influencing bank policies or operations, the agreement aims to address concerns raised by academics and regulators about the growing power of asset management giants like Vanguard and BlackRock.<\/p>\n\n\n\n

      Jonathan McKernan, an FDIC director, highlighted the risks posed by concentrated ownership among institutional investors. He emphasized that the agreement should reassure critics and ensure that Vanguard adheres to its role as a passive investor.<\/p>\n\n\n\n

      See Related: <\/em><\/strong>Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO<\/a><\/p>\n\n\n\n

      Addressing Risks Of Concentrated Ownership<\/strong><\/p>\n\n\n\n

      The deal formalizes what are known as \"passivity agreements,\" under which investors pledge not to exert influence over the banks in which they hold stakes. While Vanguard has reiterated that these guidelines align with its long-standing practices, the agreement now gives regulators a clearer framework to enforce these rules.<\/p>\n\n\n\n

      Interestingly, no similar arrangement with BlackRock has been disclosed, and the asset management firm has yet to comment on the matter. Regulators have also not clarified if they are pursuing comparable agreements with other major players in the sector.<\/p>\n\n\n\n

      This development highlights the increasing vigilance of US regulators in balancing the influence of institutional investors while maintaining the integrity of the financial system. For Vanguard, it represents a public reaffirmation of its passive investment philosophy, even as its role in the financial ecosystem continues to grow.<\/p>\n","post_title":"Vanguard Agrees To FDIC Oversight of Bank Investment Practices","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-agrees-to-fdic-oversight-of-bank-investment-practices","to_ping":"","pinged":"","post_modified":"2024-12-29 16:05:08","post_modified_gmt":"2024-12-29 05:05:08","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19966","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":16932,"post_author":"15","post_date":"2024-05-18 23:22:10","post_date_gmt":"2024-05-18 13:22:10","post_content":"\n

      The world's second-largest asset manager announced <\/a>on Tuesday the appointment of Salim Ramji as its new CEO. Mr Ramji's new role will be effective on July 8. Unlike his predecessor Tim Buckley and the broader company, Ramji is a known supporter of Bitcoin.<\/p>\n\n\n\n

      Bloomberg ETF analyst Eric Balchunas noted that this is the \"first time ever\" that Vanguard has hired externally for its top position. Balchunas, who was \"semi-shocked\" by the move, explained that previous CEOs were \"internal stars\" and former aides to the late founder John Bogle.<\/p>\n\n\n\n

      \nhttps:\/\/twitter.com\/EricBalchunas\/status\/1790498386203869352\n<\/div><\/figure>\n\n\n\n

      Mr. Ramji is a seasoned financial services executive with over 25 years of experience in investments, capital markets, and wealth management. He spent a decade in senior leadership roles at BlackRock Inc., departing in January 2024. Most recently, he served as Global Head of iShares & Index Investing, overseeing the management of the majority of the firm's client assets and enhancing the iShares platform to offer a wider array of innovative, low-cost products for investors worldwide.<\/p>\n\n\n\n

      See Related:<\/em><\/strong> SandStorm Launches On-Demand Metaverse Builds with 5 Virtual World Partners<\/a><\/p>\n\n\n\n

      But Vanguard's Not A Bitcoin Lover<\/h2>\n\n\n\n

      Vanguard has taken a different stance. In January, Bitcoin investors were surprised to find that Vanguard did not list Bitcoin spot ETFs from providers like BlackRock and Fidelity, citing inconsistencies with its \"investment philosophy.\"<\/p>\n\n\n\n

      Balchunas pointed out that Vanguard inherited John Bogle's philosophy, favoring assets with intrinsic cash flow over commodities like BTC. In 2017, Bogle advised investors to \"avoid Bitcoin like the plague.\"<\/em><\/p>\n\n\n\n

      \"Bitcoin is too volatile and not a store of value. It hasn't been, and it's very volatile,\"<\/em> Buckley said in a March interview. \"It's tough to see how it fits into a long-term portfolio.\"<\/em><\/p>\n\n\n\n

      After over three decades at Vanguard, Buckley announced in February that he would retire by the end of the year, shortly after the Bitcoin ETFs went live. Many investors believed the timing was significant, suggesting Vanguard regretted missing out on the most successful ETF launch in history.<\/p>\n\n\n\n

      \"I still think it's unlikely that this means Vanguard will launch a Bitcoin ETF (at least in the near term),\" <\/em>tweeted Bloomberg Intelligence's James Seyffart on Tuesday. \"But I think Salim could change Vanguard\u2019s stance on allowing their clients to buy spot Bitcoin ETFs on their brokerage platform.\"<\/em><\/p>\n","post_title":"Vanguard Hires Bitcoin Advocate Salim Ramji As New CEO","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"vanguard-hires-bitcoin-advocate-salim-ramji-as-new-ceo","to_ping":"","pinged":"","post_modified":"2024-05-18 23:22:16","post_modified_gmt":"2024-05-18 13:22:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16932","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

      Most Read

      Subscribe To Our Newsletter

      By subscribing, you agree with our privacy and terms.

      Follow The Distributed

      Twitter Instagram Youtube LinkedIn Facebook RSS
      ADVERTISEMENT

      Vanguard

      Most Read

      Subscribe To Our Newsletter

      By subscribing, you agree with our privacy and terms.

      Follow The Distributed

      Twitter Instagram Youtube LinkedIn Facebook RSS
      ADVERTISEMENT
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