Continuing the steady, egalitarian approach to running Vanguard that founder Jack Bogle began, current CEO Jack Brennan continues the firm’s open-door policy and attempt to keep executives with the firm for a long time by rotating them frequently to make their jobs more intriguing and by promoting from within, The Financial Times reports. And part of this egalitarian approach means there is no executive dining room and even the top executives, Brennan included, answer phones at the call center when volume gets heavy.

And when new employees join the company, even if they’re fresh out of college, Brennan tells them: “We hope this is your last job.”

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.