Jack Brennan is leaving Vanguard Group just as their exchange traded fund (ETF) segment is ready to take off and the company is humming along.

Brennan is leaving on a high note, says Matthew Hougan for Index Universe. Will the new guard continue the momentum?

• Assets quadrupled during Brennan’s tenure.
• The company ended 2007 as the best-selling mutual fund company in the world.
• The company is fast becoming a leader in ETFs.
• Costs are down, capital gains distributions are low.

With Vanguard moving into the competitive institutional market, the appointed new leader is William McNabb III, who has institutional experience at the firm under his belt.

The company is branching into the advisor market with its ETF platform. The main challenges include the fundamental indexers and beat-the-market indexing variants, along with the Baby Boomers transitioning from accumulation to distribution.

Keep an eye on the firm – interesting times could be ahead.