Vanguard Said Set to Name Bitcoin-Friendly Ex-BlackRock Exec as CEO: WSJ
Vanguard is preparing to name the BlackRock executive who oversaw the firm’s launch of its bitcoin exchange-traded fund as its new CEO, people familiar with the matter told the WSJ.
Salim Ramji left BlackRock in January to “seek a new leadership or entrepreneurial opportunity outside the firm,” he said then. The move came shortly after the asset manager launched the iShares Bitcoin Trust (IBIT), which Ramji oversaw the filing and logistics for, according to Bloomberg Intelligence senior ETF analyst Eric Balchunas.
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“He has been quoted about his interest in digital assets although I’m not sure that’s going to change Vanguard’s stance but he will be the CEO. Who knows. Door much more open now IMO,” Balchunas wrote in a post on X.
The pick comes as a surprise given Vanguard’s negative stance on bitcoin and Ramji’s known interest in the industry, sparking chatter on social media that the asset manager might change its stance.
“The underlying technology that underpins bitcoin and the blockchain technology, something that we’re incredibly excited about, and we’re excited about it because it removes frictions or at least has the promise of removing frictions across the ecosystem,” Ramji said in an interview on Bloomberg TV in July 2023. “The underpinnings are really powerful for us and that really sparked our interest.”
If confirmed, this will also mark the first time that Vanguard is hiring a CEO from outside the company.
