Vanguard has revamped its Asia management team to intensify its build-out in the region and meet growing demand for its low-cost investment products.
Taking effect by the end of 2016, David Cermak will be appointed head of Asia. Cermak is currently head of Vanguard Japan, a position he has held since June 2013.
Based in Hong Kong, Cermak will continue to report to Jim Norris, managing director for Vanguard International.
In the interim, he will continue to oversee the Japanese business until a successor is named.
Cermak joined Vanguard in November 2005, as principal and head of Vanguard’s US brokerage unit, Vanguard Brokerage Services, at Vanguard headquarters in Malvern, Pennsylvania.
Charles Lin, who has been instrumental in developing a China distribution strategy over the past five years, will assume a new role as head of China.
Lin will take on full responsibility for mainland China's expansion, a strategic focus for the international business.
In this capacity, Lin will join the international leadership team, the executive group that is responsible for all of Vanguard’s non-US operations, and will report to Jim Norris.
Shelly Painter, regional managing director for Vanguard Asia, will return to the US to lead the company’s enterprise risk management function.
She will report to Chris McIsaac, managing director, planning and development.
Globally, Vanguard manages over $3.8 trillion, as of 31 August, in mutual fund, separately managed account and ETF assets.
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