Bill McNabb, chief executive officer of the Vanguard Goup, is starting 2013 with a bang. That’s because the firm has recently passed the $2 trillion mark in U.S. mutual fund assets under management.
In a missive to investors, McNabb thanked his clients and promised to remain focused on the people who made Vanguard a mutual fund behemoth.
“Simply put, without our clients, we wouldn't exist. It's something we never forget,” he wrote. “Our client-first mentality is in our DNA, and that is not something that will change.