Vanguard names new MD
John James (pictured), Managing Director-Vanguard Australia, and Colin Kelton, principal of Vanguard’s Retail Marketing & Communications group in the United States, have been named to new roles on the leadership team of Vanguard’s International group, reporting directly to James M. Norris, Managing Director, Vanguard International.
James will transition from his current position as Managing Director-Vanguard Australia, assuming responsibility for management, distribution, and operations of Vanguard’s UK and European businesses.
He replaces Thomas M. Rampulla, who after seven years of leading Vanguard’s operations in the United Kingdom and Europe, will return to the US to head Vanguard’s $1trn (€930m) Financial Advisor Services division by mid-year. Rampulla will join Vanguard’s senior executive team and report directly to Vanguard CEO Bill McNabb.
Mr. James joined Vanguard at its US headquarters in 2008 as head of Broker-Dealer Sales and Distribution, and then moved to the International division and was the global business lead for the group’s strategic review of The Vanguard Group’s non US business and distribution efforts. In 2010, Mr. James returned to Australia to lead Vanguard’s Australian operation.
Prior to joining Vanguard, James was the CEO of Australian Football League team Port Adelaide for four years. In addition, he brings more than 15 years of executive leadership experience with prominent Australian financial services companies. He was a senior leader at MLC, the wealth management division of the National Australia Bank, where he was involved in retail distribution, institutional strategy, corporate superannuation and scaled advice.
Rampulla joined Vanguard in 1988 and has held various positions of increasing responsibility. He has worked in Vanguard’s Financial Division, Fixed Income Group and Institutional Sales and Marketing.
Prior to joining Institutional Sales and Marketing, Mr. Rampulla was a portfolio manager in Vanguard’s Fixed Income Group’s Stable Value Management group. Before joining Vanguard, Mr. Rampulla worked for the financial software firm Shaw Data Services.
In Australia, Colin Kelton will assume the position of Managing Director-Vanguard Australia, with responsibility for all aspects of management, distribution, and operations of Vanguard’s Australian business.
Kelton started with Vanguard in 1990 as a service associate and has held various positions of increasing responsibility in Vanguard’s Retirement Resource Center, Retail Operations, and Retail Services.
James Norris, Managing Director, Vanguard International, comments: “We are very pleased to retain John on Vanguard’s international leadership team. He is a tenured professional in the investment management industry who will bring his experiences from the US and Australia to benefit our European business and our clients.
“We would like to thank Tom for his tremendous efforts in Europe. Under his leadership, we have built and navigated the business through significant industry change, including the UK’s Retail Distribution Review, which Vanguard has relentlessly championed for in the long-term interest of investors. Vanguard’s European operations now have more than $90bn (€83.7bn) in assets under management and we are successfully exporting our proposition across Europe as a low-cost, high-value provider of investments and services.”