19 Jan 2021

Tilney Smith & Williamson announces the appointment of former Vanguard CEO Bill McNabb as a Non-Executive Director

Tilney Smith & Williamson, the UK wealth management and professional services group, is pleased to announce the appointment of Bill McNabb as a Non-Executive Director[1].

Mr. McNabb is the former Chairman and Chief Executive Officer of The Vanguard Group, Inc., the world’s largest mutual fund manager. At Vanguard he served in various leadership roles before being appointed Chief Executive Officer in 2008 and Chairman in 2010. He served as CEO for nine years, retiring in 2017 and continued as Chairman of Vanguard until 2018. During his tenure as CEO of Vanguard, assets under management grew almost five-fold to $5.3 trillion and he oversaw a period of major product innovation as well as the build-out of the group’s advice service.

Since retiring, Mr. McNabb has served in a number of Non-Executive roles. He is a Board member of New York Stock Exchange listed groups IBM and UnitedHealth Group, as well as global legal services firm Axiom. He is a board member of CECP: The CEO Force for Good, a US corporate sustainability initiative, and the Philadelphia School Partnership, a non-profit organisation focused on creating educational opportunities for students from low-income families. He is also Chairman of the board of the Zoological Society of Philadelphia. Mr. McNabb is a graduate of Dartmouth College and has an MBA from the Wharton School of the University of Pennsylvania.

Tilney Smith & Williamson was created by the merger of Tilney Group and Smith & Williamson which completed on 1 September 2020The group is responsible for over £50 billion of client assets under management (AUM) and ranks as the UK’s third largest wealth manager by revenues and the sixth largest UK professional services firm when measured by fee income.

Will Samuel, Chairman of Tilney Smith & Williamson, commented:

“Bill McNabb has an outstanding track record as a global heavyweight in the investment management industry and he is a well-known champion of good governance. We are delighted that Bill is joining the Board of Tilney Smith & Williamson following the recent merger. The combination has created a unique business with an unrivalled proposition in the UK market, able to support clients with advice on both their personal wealth management needs and their business interests. Bill’s experience and insight will prove invaluable to Tilney Smith & Williamson as we complete the integration and embark on the next stage of growth and development.”

[1] The appointment will be subject to the approval of the UK’s Financial Conduct Authority.