One of the leaders of Vanguard's stock index business is preparing to say goodbye.

Mike Buek, principal at the Valley Forge, Pennsylvania-based fund firm's equity index group and head of U.S. trading, will retire from the firm at the end of December, chief investment officer Greg Davis confirms today.

Andy Maack, the current global head of foreign exchange trading at Vanguard, will step into Buek's shoes.

"Mr. Maack will be based in Malvern, PA and he will lead the firm's index portfolio management and trading functions for the U.S. trading desk upon Mr. Buek's retirement," a spokesperson for Vanguard tells MFWire. "Mike Eyre, the head of risk management in Europe, will assume the role of head of foreign exchange trading."

Maack will report to Rodney Comegys, principal and global head of Vanguard Equity Investment Group.

"Mike [Buek] was a pioneer in the development of Vanguard's equity index management function and has been instrumental in leading our equity trading desk through critical inflection points over the past three decades. We are deeply grateful to Mike for his dedication and unwavering commitment to our clients, crew and Vanguard," Davis stated. "Andy's creation and leadership of Vanguard's foreign exchange trading desk, along with his equity portfolio experience, make him extremely well-suited to lead Vanguard's U.S. Trading team. I'm confident the team will be in good hands under his leadership."

Buek joined Vanguard in 1987 and joined the equity trading desk in 1991, where he played a great role in the management of the giant Vanguard S&P 500 Index Fund until 2016. He is an alumnus of Villanova and of the University of Vermont.

Maack joined Vanguard in 2002 and has worked in the Vanguard Investment Management Group since 2004. While with the firm, he founded Vanguard's FX desk and had built the firm's currency trading capabilities. Prior to his current position, he served as an equity portfolio manager, a municipal bond trader, and held several other roles in the Retail Investor Group.  

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