Business & Tech
Malvern's Vanguard Group CEO Raked In $10M to $15M In 2015, Report Says
The company has not reported executive compensation since the 90s, according to Bloomberg.
According to "people familiar with the matter," Vanguard, a Malvern-based index fund group, pays its CEO a hefty, hefty sum.
Bloomberg reports Vanguard CEO Bill McNabb earned between $10 million to $15 million working for the group that has $3.9 trillion in assets.
The outlet reports with such a grip on corporate America, Vanguard can influence how executives are compensated. But the company itself has not released its own executive pay since the 1990s, Bloomberg reports.
Find out what's happening in Malvernfor free with the latest updates from Patch.
McNabb has served as Vanguard's CEO since 2008 and since then the company's assets have burgeoned by $2.8 trillion, Bloomberg reports.
"Vanguard is an important shareholder voice on executive pay," Bloomberg says is the bottom line of this topic. "But it isn’t transparent on its own compensation."
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