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New Vanguard CEO: Greed is good (for us)

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Vanguard Group, the world's largest mutual fund manager with more than $4 trillion in assets, this week announced that CEO Bill McNabb will step down at the end of 2017, to be succeeded by chief investment officer Tim Buckley. Here is Buckley speaking to The Economist last summer:

QuoteThe biggest advantage Vanguard has, aside from its structure, is the greed of our competitors.