Vanguard CEO Swears by Bogle’s Vision as Asset Manager Turns 50

Vanguard Group Chief Executive Officer Salim Ramji vowed to remain true to founder Jack Bogle’s vision for everyday investors even as the industry confronts rapid changes, turbulent markets and an uncertain global economic outlook.

In the firm’s first letter to shareholders in about a decade, coinciding with the Malvern, Pennsylvania-based company’s 50th anniversary, Ramji laid out his priorities including expansion of private-market offerings. He reassured his roughly 50 million customers that low-cost, accessible investing — as conceived by Bogle when he founded Vanguard on May 1, 1975 — was more alive than ever.

Salim Ramji

Ramji is the first outsider ...