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Vanguard 50-year anniversary CEO letter
Our CEO reflects on Vanguard’s first 50 years and outlines how we will continue to take a stand for investors.
Vanguard’s money market funds already provide strong performance at low fees but, you probably also hold traditional savings accounts—whether for the convenience of paying bills or FDIC insurance. 10 We have nearly completed modernizing our personal investor technology, moving off legacy mainframe systems to cloud computing, and we expect to be in a similar position with workplace retirement in about a year. It is based on an estimate of total interest earned during the period May 24, 2022, through December 30, 2024, using the Vanguard Cash Plus bank sweep program’s actual daily APY (annual percentage yield will vary and may change at any time).
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