Vanguard CEO Salim Ramji discusses the shift from BlackRock, Vanguard’s use of AI, and plans for private markets and crypto ETFs at the Morningstar Investment Conference 2025. Ramji emphasizes simplicity over complexity and the importance of cash flow in Vanguard’s investment decisions, explaining the firm’s cautious approach to cryptocurrency ETFs. Vanguard aims to maintain quality, low fees, and clarity in client offerings as they explore new investment opportunities. The industry may take time to adopt private markets widely due to complexity and consumer familiarity with traditional investment products.

Read more at Morningstar: Why Vanguard’s CEO Cautions That Private Markets Could Feed the Industry’s Complexity