Benchener, who is a managing director at US-listed fund management giant , will join the firm in March for a handover period, working alongside Flint, the business said in a statement yesterday.

Benchener, who joined Vanguard in 2008, is head of its Vanguard Personal Investor business, the company’s US retail direct business, and is a member of the senior executive team.

Under the change, Flint will become deputy board chair. Flint joined the business as a non-executive director in March last year, becoming interim CEO from August.

Among recent changes, Susannah Streeter, who had been head of money and markets for Hargreaves Lansdown for five years, moved to Wealth Club, a UK-based investment service, to become chief investment strategist, effective yesterday.