Vanguard Unveils New Wealth Management Division Led by Expert Joanna Rotenberg

VALLEY FORGE, Pa., Dec. 9, 2024 /PRNewswire/ — Vanguard is turning a new page in the world of finance, announcing the launch of an innovative Advice & Wealth Management division aimed at revolutionizing client outcomes. Join us in welcoming industry powerhouse Joanna Rotenberg, who will step in as managing director and integral member of Vanguard’s senior leadership team starting in January 2025.

With Vanguard’s existing advice and wealth management services already among the industry’s fastest growing, this dynamic new division is set to elevate the game even further. At the heart of this initiative is Vanguard’s commitment to high-quality, diversified, and cost-effective solutions that empower clients to maximize their returns.

“For nearly five decades, Vanguard has been a champion for investors, democratizing the world of investing and providing millions with the tools necessary for financial triumph,” said Vanguard’s Chief Executive Officer, Salim Ramji. “With Joanna on board, we’re excited to deepen our commitment to democratizing advice and wealth management through enhanced technologies and solutions that reflect our unwavering passion for our clients.”

Joanna Rotenberg joins Vanguard after an impressive tenure as president of Personal Investing at Fidelity, where she led a comprehensive suite of retirement, brokerage, and wealth management services. Her prior experience includes a decade at BMO Financial Group, where she was a key figure on the Executive Committee, and a partnership at McKinsey & Company, guiding clients in wealth and asset management.

“I have long admired Vanguard’s innovative structure and commitment to clients. It’s an honor to lead the new Advice & Wealth Management group and to broaden Vanguard’s offerings, enabling even more people to achieve their investment ambitions,” said Joanna.

In addition to unveiling this new division, Vanguard is announcing several strategic leadership changes aimed at sharpening its client focus and expanding the senior leadership team. Key changes include:

• Matt Benchener, managing director and head of Vanguard’s Personal Investor business, will continue his pivotal role in enhancing the digital experience and serving millions of direct investors with tailored solutions in brokerage, cash management, and education savings.
  
• John James, formerly managing director of the Institutional Investor Group, is now at the helm of Workplace & Advisor Solutions, focusing on deepening Vanguard’s relationships with enterprise clients.
  
• Lauren Valente, managing director and chief human resources officer, will now lead the Institutional Investor Group.
  
• Jon Couture, a seasoned HR executive with extensive leadership experience in financial services, will join Vanguard this month as a managing director and senior leadership team member, succeeding Lauren.
  

“Vanguard’s unique culture is deeply rooted in its mission and the dedication of its team. I’m excited to be part of this extraordinary organization and to help cultivate the next generation of Vanguard talent,” said Jon Couture.

“These strategic changes are designed to enhance our client focus, expand our digital capabilities, and strengthen our leadership team. We eagerly welcome Joanna and Jon, while extending our congratulations to John and Lauren on their new roles,” added Salim.

Meet Joanna Rotenberg

Joanna Rotenberg is a distinguished executive with extensive experience in all areas of the financial services sector. Before joining Vanguard, she led Personal Investing at Fidelity Investments, serving the needs of over 20 million U.S. investors. Joanna’s impact spanned strategy, product innovation, technology, and service delivery, managing a robust team of over 30,000 associates.

Her career also includes over a decade at BMO Financial Group, where she was Group Head of BMO Wealth Management and a member of the Executive Committee. Joanna’s journey began as a Partner at McKinsey & Company, where she specialized in North American financial services.

Joanna actively serves as Treasurer on the Board of Directors for Sinai Health System and is a member of the Rotman Dean’s Advisory Board at the University of Toronto. She has been recognized among the 100 Most Influential Women in U.S. Finance by Barron’s and named one of Canada’s Most Powerful Women by the Women’s Executive Network.

Joanna holds a JD/MBA from the University of Toronto and is a member of the New York Bar.

Meet Jon Couture

Jon Couture is a seasoned human resources executive with 30 years of experience, primarily in financial services. Before joining Vanguard, he served as executive vice president and chief human resources officer at Principal Financial Group, overseeing HR for over 18,500 employees globally.

His previous roles include executive vice president of human resources at Wells Fargo, where he managed HR for various divisions, and senior executive vice president of human resources for HSBC North America Holdings. Jon’s leadership journey is complemented by his service in the U.S. Air Force.

Jon holds a doctorate in human performance from the University of Southern California, a master’s in instructional and human performance technology from Boise State University, and a bachelor’s degree in management from Southern Illinois University.

Discover Vanguard

Founded in 1975, Vanguard stands as one of the world’s premier investment management companies. Catering to millions of investors globally, the firm provides a wide array of investments, advice, and retirement services—whether directly, through workplace plans, or via financial intermediaries. Vanguard operates under a groundbreaking investor-owned structure where fund shareholders own the funds, which, in turn, own Vanguard. This unique model allows Vanguard to remain committed to a singular purpose: to act on behalf of all investors, ensuring fair treatment and providing the best chance for investment success. To learn more, visit vanguard.com

Remember, all investments come with risks, including the potential loss of your principal.

Advice services are delivered by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.