The changing of the guard atop the world's largest mutual fund firm is about to be complete.

Vanguard's CEO, Tim Buckley, will succeed Bill McNabb as chairman of the company starting January 1, 2019.

Buckley, who took over from McNabb as CEO of Vanguard in January 2018, will become the fourth chairman in Vanguard's 43-year history.

Buckley previously served at other Vanguard senior management roles, such as chief investment officer, head of the retail investor group, and chief investment officer.

"Tim has been a strong, focused leader at Vanguard during times of tremendous company growth, as well as periods of significant market uncertainty," McNabb states. "The Board of Directors and I have tremendous confidence in his ability to lead Vanguard through this next chapter for the firm." 

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