Vanguard Names Kenneth Jacobs Chairman Amid Leadership Shuffle

Vanguard, one of the world's largest asset managers, is shaking up its leadership. On January 1, 2027, Kenneth Jacobs will take over as non-executive chairman. Jacobs brings extensive global finance experience to the role, having previously served as Lazard Inc.'s chairman and CEO from 2009 through 2023.

Jacobs' appointment comes after Mark Loughridge's retirement on December 31. Loughridge has been a member of Vanguard's board since 2012 and became non-executive chairman in 2024. Vanguard CEO Salim Ramji praised Loughridge for his guidance during the firm's significant growth and change.

To address Jacobs' regulatory status, Vanguard has named John Murphy as lead independent director. Murphy is currently the president and chief financial officer of The Coca-Cola Co. He brings a wealth of experience in finance, strategic planning, and international operations to the role.