Andy Maack, CFA

Andy Maack, CFA is a senior executive at Vanguard with extensive experience in investment management and trading. Here are the key details about his career and role:

Current Position

Andy Maack currently serves as the Principal and Head of US Equity Index Portfolio Management at Vanguard.45 He is also a senior manager in Vanguard's Fixed Income Group, where he holds the position of Global Head of FX Trading, supporting Vanguard's equity and fixed income portfolios globally.1

Career at Vanguard

Maack has been with Vanguard for over 19 years, steadily advancing through various roles:

• Started answering telephones and worked as a financial planner advising clients on retirement plans
• Moved to investment management as a municipal bond trader
• Transitioned to the equity index group as a trader and portfolio manager
• Became head of FX Trading about 6 years ago
• Recently appointed as Head of US Equity Index Portfolio Management

Responsibilities

As Global Head of FX Trading, Maack is responsible for:

• Managing all currency needs across Vanguard, overseeing about $2.5 trillion in annual currency trades
• Leading FX traders in the United States, United Kingdom, and Australia
• Implementing and optimizing algorithmic trading strategies for FX
• Focusing on reducing transaction costs and improving execution quality

Achievements

Under Maack's leadership, Vanguard's FX trading desk has:

• Saved shareholders significant transaction costs through netting and algorithmic trading
• Avoided going to market with $1 trillion in flow through efficient netting processes
• Consistently outperformed arrival mid-price in transaction cost analysis

Education and Credentials

• Holds a CFA charter
• Earned a B.S. from Indiana University of Pennsylvania
• Studied at The Wharton School
• Completed the Investment Management Workshop at Harvard Business School Executive Education

Leadership and Diversity Initiatives

Maack is actively involved in diversity and inclusion initiatives at Vanguard:

• Serves as a senior advisor for Vanguard's Women Inspiring Leadership Success
• Co-leads Vanguard's Black Professional Network's onboarding and attracting arm
• Recognized by colleagues as an "inspirational leader"

Andy Maack's career at Vanguard showcases a trajectory of continuous growth and leadership in investment management, with a particular focus on foreign exchange trading and equity index portfolio management.23