The current head of the division is retiring after 35 years at the US asset management group.

Vanguard, the US asset management giant, yesterday said that Tom Rampulla (pictured), managing director and head of Vanguard’s Financial Advisor Services division, is leaving the business after 35 years of service to the firm.  

Amma Boateng, head of the broker-dealer channel within FAS, will join Vanguard’s senior leadership team and become the head of the division effective January 1, 2024.

The firm said that Rampulla, who became FAS head in 2015, led this business to hold more than $3 trillion in assets, serving more than 150,000 financial advisors with investments, services, education, and research.

Before the FAS role, Rampulla served as the first head of Vanguard’s UK and European operations from 2008 to 2015. Previously, he spent six years helping establish the FAS business and expanding distribution of Vanguard’s US ETF product lineup.

“Tom and his entrepreneurial spirit set the course for our European business, launching our European ETF franchise and introducing our mission and investment philosophy to UK investors,” Vanguard chairman and CEO, Tim Buckley, said. 

Boateng, who joined Vanguard in 2004, leads the broker-dealer channel within FAS, serving wirehouse, independent, and regional broker-dealers. Before this role, Boateng built and led Vanguard’s Advisor Solutions function.