Vanguard Canada is shaking up its executive ranks, appointing Kathy Bock as its new country head effective next year.
Ms. Bock, who currently serves as principal and head of the Americas region, will replace Atul Tiwari in her new role as head of Vanguard Investments Canada on Jan. 1. Mr. Tiwari, who is the current managing director of Vanguard Investments Canada, will remain with the firm for a transition period until the end of 2018.
“Mr. Tiwari has been instrumental in building Vanguard Canada into one of the leading asset managers in the country and the third-largest ETF provider in Canada over the past seven years,” said the company in a statement. “This change is consistent with Vanguard’s rotational leadership culture.”
“This familiarity provides a continuity in approach to ensure a seamless transition for Vanguard clients and employees in Canada,” Vanguard added.
Mr. Tiwari declined to comment.
Vanguard Canada has experienced several executive departures within its Canadian office in recent months. Jason McIntyre, head of distribution (Canada), and Jonathan Needham, head of marketing, have both departed the firm, according to industry sources.
Vanguard is the world’s second-largest asset manager with more than US$5-trillion in assets under management (AUM). Since launching the Canadian division in 2011, Mr. Tiwari has grown Vanguard into the third-largest exchange-traded funds provider in the country with more than $17-billion in AUM in 37 funds and four actively managed mutual funds.
Ms. Bock has been with Vanguard since 1997 and will be relocating from the Philadelphia area to the Toronto head office in the new year. Having overseen the Americas region – which includes Canada, Latin America and the Caribbean – Ms. Bock has a “strong familiarity” with the Canadian market, Vanguard said.
“After overseeing Canada as part of the Americas region for Vanguard for the past few years, I am excited to continue our mission to change the way Canadians invest,” Ms. Bock said in an e-mail.
Clare O’Hara