News release

Vanguard Announces Hiring of Chief Financial Officer

VALLEY FORGE, PA (May 25, 2016)—Vanguard announced today that Michael Rollings will join the $3.5 trillion investment management firm next month as Chief Financial Officer and head of its Finance Division. Mr. Rollings most recently served as Executive Vice President and Chief Financial Officer of MassMutual Financial Group.

“We are pleased to welcome to Vanguard a finance professional the caliber of Mike Rollings. He will bring considerable experience and perspective to Vanguard’s senior leadership team, along with deep knowledge and expertise to a critical function,” said Vanguard CEO Bill McNabb.

Mr. Rollings, 52, will assume leadership of Vanguard’s Finance Division from Managing Director Glenn Reed, 63, who will remain a member of the firm’s 11-person senior leadership team and head Vanguard’s Strategy Division. Mr. Rollings will be responsible for all of Vanguard’s finance functions, including middle-office investment operations, investment product accounting and administration, and internal audit.

After starting his career in banking in New York City, Mr. Rollings joined MassMutual in 2001 to lead the firm’s Capital Markets division, and was named Executive Vice President and CFO in 2006. He received a B.S. degree in business administration from Georgetown University and holds a postgraduate degree from the Kellogg School of Management at Northwestern University.

About Vanguard

Vanguard is one of the world’s largest investment management companies. As of April 30, 2016, Vanguard managed more than $3.5 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers more than 325 funds to its more than 20 million investors worldwide. For more information, visit