Vanguard Embraces Ant Tie-Up in Scrapping China Fund Expansion

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Vanguard’s Asia CEO Charles Lin said in a July 2018 interview with China’s Securities Times that the enormous size and potential of the Chinese market meant that the firm’s assets under management could eventually grow to $5 trillion. After inking the deal with Ant in 2019, Lin abruptly resigned later that year, followed by at least 10 senior executive departures, including staff in legal affairs, human resources, risk management and sales.