Chairman of the investment firm The Vanguard Group and a member of the board of directors of each of the Vanguard mutual funds. Headquartered in Malvern, Pa., Vanguard is one of the world's largest and most influential investment companies.
Mr. Brennan joined Vanguard in 1982, became president in 1989 and CEO in 1996 and has been chairman of the board since 1998. Over the course of his 12-year tenure as CEO, the firm grew to $1.25 trillion in assets and 150 domestic funds, with additional funds in international markets. The firm has a staff of 12,000 in the United States and 12 international locations.
In November 2008, in response to concerns about the stability of money market funds, the Investment Company Institute, a trade organization representing mutual fund companies, formed the Money Market Working Group and chose Mr. Brennan to lead it. The group brought together industry participants to make recommendations for improvement and change without waiting for regulators or politicians to act. The panel's recommendations, says Mr. Brennan, have resulted in extreme stability for money market funds and, if universally adopted, would raise the minimum industry standards to a "best practices" level.
Mr. Brennan is a past chairman of the Investment Company Institute, the chairman of the Financial Accounting Foundation, a governor of the Financial Industry Regulatory Authority, a trustee of the University of Notre Dame, a director of the United Way of Southeastern Pennsylvania and a past governor of United Way of America.
He is the author of Straight Talk on Investing: What You Need to Know, a primer on sensible long-term investing. Mr. Brennan is often featured in business and investment-industry publications for his insights into the financial markets and issues affecting the investment industry. Mr. Brennan earned his bachelor of arts degree at Dartmouth College and his master of business administration degree at Harvard Business School.more » « less