The Canadian operation, led by Atul Tiwari, will have its head office in Toronto. Tiwari, formerly an executive with BMO Financial group and past President/CEO of Harris Insight Funds, was instrumental in bringing exchange-traded funds (ETFs) to the Canadian market in 2009. He has more than 20 years of experience in the financial services industry, Vanguard reports.
“Investment advisers in Canada are experiencing a period of change as fee-based practice models continue to take hold, and advisers and their clients are squarely focused on reducing costs and risks,” said Tiwari. “We will leverage the knowledge and experience Vanguard has gained from serving investment advisers in the U.S. for nearly a decade … to provide sound solutions for Canadian advisers and their clients.”
Details about Vanguard’s product line-up will be announced after it has submitted a preliminary prospectus to the Canadian Securities Regulators in compliance with related laws.