Part 7/10:
Five months later, Vanguard appointed Saleem Romi from Black Rock as its new CEO. Romi’s outsider status and extensive background in investment and wealth management have elicited mixed reactions within the industry. Stakeholders are keenly watching whether Romi's leadership can staunch the tide of lagging revenues and generate innovative strategies that align Vanguard's operations with broader market demands.
In conjunction with this management transition, Vanguard has introduced new fees—a controversial move indicative of its need to bolster operating income. Such tactical shifts may imply a broader pivot in Vanguard’s strategy, with the potential to explore higher-margin business lines or more premium investment products.