VALLEY FORGE, PA — Vanguard has appointed longtime executive Manish Nagar as chief risk officer effective Jan. 1, 2027, as the investment management giant prepares for the retirement of two senior managing directors and a broader reshuffling of reporting responsibilities.
Nagar, currently head of Business & Operational Risk, will succeed Joe Brennan, who plans to retire at year-end after more than three decades with the firm. The transition places a veteran risk executive with experience spanning investment management, cybersecurity, operational risk, and international markets at the center of Vanguard’s enterprise risk oversight.
The move comes as Vanguard manages multiple leadership changes across key business units. In addition to Brennan’s departure, John James, managing director of the company’s Workplace & Advisor Solutions group, will retire at the end of September after 18 years with the firm.
Vanguard stated that its Global Risk & Security division will continue reporting to President and Chief Investment Officer Greg Davis following the transition.
Nagar joined Vanguard in 2000 and has held a series of senior roles, including chief information security officer, chief risk officer for investment management, global head of investment risk, and head of risk management for the firm’s European operations.
“Manish has helped shape how we think about risk for more than 25 years, helping us evolve from strong individual capabilities into a more integrated, enterprise discipline,” Davis said.
Brennan has served as chief risk officer since 2018. During his tenure at Vanguard, he also held leadership positions including global head of Index Equities, chief investment officer for the Asia-Pacific region, and head of Portfolio Review.
The retirement of James will also alter Vanguard’s management structure. The company noted that its Workplace Solutions and Financial Advisor Solutions divisions will report directly to Chief Executive Officer Salim Ramji while continuing to be led by managing directors Lauren Valente and Amma Boateng, respectively.
The changes represent one of the most significant leadership transitions under Ramji, who became Vanguard’s CEO in 2024 and has continued to reshape the firm’s executive team.
“Joe has helped build a culture where risk considerations are embedded in every decision,” Ramji said. “John has helped redefine how we bring the full strength of Vanguard to every relationship.”
Vanguard, one of the world’s largest asset managers, oversees trillions of dollars in client assets globally. The firm did not announce a direct successor to James in the release.
Nagar holds a bachelor’s degree in electronics and communication engineering from Bangalore University and an MBA from Rutgers University. He also completed executive leadership programs at the University of Pennsylvania, Stanford University, and Harvard Business School.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.