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VALLEY FORGE, Pa. (AP) - The Vanguard Group announced Friday that F. William McNabb III was named president and director and will take over within a year as CEO of the nation's second-largest mutual fund company.
McNabb, 50, has been with Vanguard since 1986. He currently serves as a managing director overseeing Vanguard's institutional and international businesses, with about $700 billion in assets under management.
He will begin his role as president and director on March 1 and will succeed chief executive officer John Brennan within a year.
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