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Vanguard adds Chief Risk Officer to senior leadership team

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Joseph P Brennan has been appointed to the newly created position of Global Chief Risk Officer at Vanguard, and as a member of the firm’s senior leadership team.

In his new role, Brennan will assume responsibility for the firm’s current enterprise risk management organisation, in addition to all facets of enterprise security and investment risk management.
 
“We believe centralising our risk management functions under a single senior leader will benefit both our clients and Vanguard. Joe’s vast and varied investment management and leadership experience both in the US and abroad make him the ideal candidate to integrate and enhance our capable and strong global risk management teams,” says Vanguard CEO Tim Buckley (pictured).
 
Brennan joined Vanguard in 1991 and worked as an analyst and trader in the firm’s Fixed Income Group. He then moved to Vanguard’s Portfolio Review Department, which is primarily responsible for investment manager search and oversight, eventually leading the group for five years. In 2009, he was named chief investment officer of the Asia Pacific region and served on the senior leadership team of Vanguard Australia. In 2013, he assumed responsibility for Vanguard’s Equity Index Group.
 
Brennan earned a BA in economics from Fairfield University and an MS in finance from Drexel University. A graduate of Harvard Business School’s Advanced Management Program, he is a CFA charterholder and is a member of the CFA Society of Philadelphia.
 
Brennan’s current role as head of Vanguard’s Equity Index Group, which oversees USD3.1 trillion in 319 mutual funds and ETFs, will be assumed by C Rodney Comegys, principal and head of the Risk Management Group within Vanguard Investment Management Group, responsible for risk analysis oversight for the Fixed Income, Equity Index, and Quantitative Equity groups.
 
“Rodney has been integral in building a world-class investment management function and team, and now he will have the opportunity to lead Vanguard’s largest investment group,” says Buckley. “His deep knowledge of indexing and our investment and trading systems, along with his understanding of the markets and market structure, will serve him well in his new role.”
 
Previously, Comegys was head of investments, Asia Pacific, and head of Equity Index Group, Asia Pacific. His former roles include leading Vanguard’s Index Analysis and ETF Trading teams, and heading the Global Broker Relations team. As a member of Vanguard’s investment management team for the past ten years, Comegys played a key role in expanding Vanguard’s international business, launching new ETFs, and building processes and technology for Vanguard’s equity management and trading systems.
 
Comegys has also served in leadership roles in Vanguard’s Six Sigma program and Retail Investor Group. Before joining Vanguard in 1999, he was a US Navy nuclear submarine officer. He earned a BS in engineering and an MSc in regional science economics from the University of Pennsylvania, and an MBA from Harvard Business School.
 

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