Vanguard is ramping up its risk management strategy, instituting a chief risk officer for the first time and expanding its partnership with a risk management fintech firm, RiskFirst.
Vanguard announced on Wednesday that it has promoted its head of the equity index group, Joseph Brennan, to the newly created role of chief risk officer. The firm also announced this week that its institutional nonprofit clients will have access to the RiskFirst risk management technology that its pension clients were already using.
“We believe centralizing our risk management functions under a single senior leader will benefit both our clients and Vanguard,” said Vanguard’s chief executive officer Tim Buckley in a statement.
Vanguard is among a number of asset managers building…
