The value of clients’ assets that Vanguard manages outside the US has topped $1tn and it is plotting a major international expansion, aiming to double its customers and assets within five years.
Salim Ramji, chief executive of the world’s second-largest asset manager, told the FT that there will be “incredible opportunities” globally as governments attempt to encourage millions of savers to invest their excess cash.
He said the UK and Europe are heavily weighted towards cash and cash deposits, partly because investing is “too costly, it’s too complicated and there are lots of barriers in the way [to] helping people make good long-term investments”.
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