Vanguard Appoints BlackRock Veteran Salim Ramji as Next CEO (2)

Vanguard Group Inc. named Salim Ramji as its next chief executive officer, tapping the BlackRock Inc. veteran to succeed Tim Buckleyand become the first outsider to lead the firm famed for revolutionizing investing with the index fund.

Ramji, who oversaw exchange-traded funds and index investing at BlackRock, will join Vanguard, one of its biggest rivals, in July, according to an emailed statement Tuesday. Vanguard was founded almost a half-century ago by the late Jack Bogle, and it managed about $9.3 trillion at the end of March.

“The current investor landscape is changing, and that presents opportunities for Vanguard ...