Vanguard selects new head of non-profit investment-only business

Kevin Jestice, a principal at Vanguard Group, was named head of Vanguard's non-profit investment-only business, according to spokeswoman Linda Wolohan.

Mr. Jestice replaces Patrick J. Burke, who joined Mill Creek Capital Advisors on Sept. 9 as managing director to work with non-profit organizations and high-net-worth families, Mr. Burke confirmed in an e-mail.

Mr. Jestice will lead Vanguard's national non-profit business, working with endowments, foundations and other tax-exempt organizations. He will report to Scott Conking, a principal in Vanguard's institutional investor group.

Mr. Jestice previously was head of Vanguard's advisory business, Vanguard Institutional Advisory Services. Since Vanguard is integrating its advisory and investment-only services for non-profit organizations, he will continue to run the advisory business.