The US-based fund manager has made changes to its Asian management team.

Vanguard has appointed its Japan head, David Cermak, to lead its Asia business.

Cermak, who joined Vanguard in 2005 as head of its US brokerage unit, has been head of Vanguard Japan since 2013. As head of Asia, he will continue to report to Jim Norris, managing director for Vanguard International, and will be based in Hong Kong. Cermak will continue to oversee the Japanese business until a successor is named.

Meanwhile, Charles Lin, who has helped drive the firm’s China distribution strategy over the past five years, will assume the new role of head of China. He will join the international leadership team, which oversees all of Vanguard’s non-US operations, and will report to Norris.

Shelly Painter, regional managing director for Vanguard Asia, will return to the US to lead the firm’s enterprise risk management function. She will report to Chris McIsaac, managing director, planning and development.

“Vanguard’s evolved management structure in Asia will help us bring our low-cost, transparent and long-term investment approach to even more investors across the region. And as we build scale and develop our capabilities, we will bring Vanguard’s unique investor advocacy to even more investors in the region,” said Norris. 

“With a dedicated and highly experienced leadership team, we are confident that Vanguard’s mission to bring down the cost of investing and treat our investors fairly will resonate with investors across the region, particularly China, where we see great potential for helping investors meet their long-term financial objectives.”

Globally, Vanguard managed over $3.8 trillion as of 31 August 2016, in mutual fund, separately managed account and exchange-traded fund assets.