Tilney Smith & Williamson has hired Vanguard’s former chairman and chief executive as a non-executive director.
Bill McNabb became CEO of Vanguard, the world’s largest mutual fund manager, in 2008 before retiring from the role in 2017 and continuing as chairman until 2018.
During his tenure, assets under management grew almost five-fold to $5.3trn (£3.9trn).
Since leaving Vanguard, McNabb has served in several non-executive roles, including as a board member of IBM and United Health Group, as well as global legal services firm Axiom.
He is also a board member of Chief Executives for Corporate Purpose (CECP), a US corporate sustainability initiative, and the Philadelphia School Partnership, a non-profit organisation focused on creating educational opportunities for students from low-income families.
He is also chairman of the board of the Zoological Society of Philadelphia.
Tilney Smith & Williamson chairman Will Samuel said McNabb had an “outstanding track record as a global heavyweight in the investment industry”, adding he was “delighted” he was joining the board following the merger of Tilney and Smith & Williamson.
“Bill’s experience and insight will prove invaluable to Tilney Smith & Williamson as we complete the integration and embark on the next stage of growth and development.”
Last week Tilney Smith & Williamson poached three investment managers from Brooks Macdonald with Richard Lindop joining its Leeds office and Lindsay Spencer and James Grayson joining in Southampton.
