The firm that made index funds fashionable will get its fourth CEO in its four-decade history.
The trickle toward indexes has turned into a flood, with more than half a trillion dollars heading into passive funds over the past 12 months.
George U. 'Gus' Sauter, managing director and Chief Investment Officer of Vanguard, announced his plans to retire, effective December 31, 2012.
By Lewis Braham