Intensifying its build-out in Asia, where the firm is experiencing high growth, Mutual fund manager Vanguard has announced changes to its Asia management team.
From the end of 2016 Vanguard’s Asia business will be led by David Cermak, current Head of Vanguard Japan, a position he has held since June 2013, the firm said in an email note to finews.asia.
In his new role Cermak (pictured) will continue to report to Jim Norris, Managing Director for Vanguard International, and be based in Hong Kong. In the interim, he will continue to oversee the Japanese business until a successor is named. Cermak joined Vanguard in November 2005, as principal and Head of Vanguard’s U.S. brokerage unit, Vanguard Brokerage Services, at Vanguard headquarters in Malvern, Pennsylvania.
New China Head
Charles Lin, (pictured) who has been instrumental in developing a China distribution strategy over the past five years, will assume a new role as Head of China, where he will take on full responsibility for mainland China's build out, a strategic focus for the international business. In this role Lin will join the international leadership team, the executive group that is responsible for all of Vanguard’s non-US operations, and will also report to Norris.
As a result of the latest reshuffle Shelly Painter, Regional Managing Director for Vanguard Asia, will return to the U.S. to lead the company’s Enterprise Risk Management function. She will report to Chris McIsaac, Managing Director, Planning and Development. These management changes will be completed by year-end 2016.
