George U. "Gus" Sauter will retire as Vanguard Group’s chief investment officer, effective Dec. 31.
When Mr. Sauter retires, Mortimer J. “Tim” Buckley will assume the CIO role. Currently, Mr. Buckley serves as managing director of Vanguard’s retail investor group.
In a telephone interview, Mr. Sauter, who became Vanguard’s first CIO in 2003, said he’s still considering what his next move will be, but noted that he’s “always loved an academic environment,” and could eventually end up teaching at the university level.
Paul Heller, managing director and chief information officer, will succeed Mr. Buckley as head of the retail investor group, said spokesman John Woerth.