Influencing Capital Allocation with Karin Risi

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 9 May 2025

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Barry speaks with Karin Risi, who spent 27 years at Vanguard, the world’s 2nd largest asset manager. She has reported directly to the past four CEOs of VG. Risi formulated enterprise-level strategy, drove client and revenue growth, oversaw talent development, and influenced capital allocation for the $10 trillion investment firm serving 50 million investors globally.
Risi led the firm’s $2.5T AUM Personal Investor business from 2015 to 2020; she also helped to create and drive the firm’s growth in Personal Advisors, a group that currently manages 350 billion in client assets. She has also handled Corporate crisis comms, M&A, and strategic partnerships.

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0:00.0	You're listening to an IHeart podcast.
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0:30.3	Pigeum, our investments shape tomorrow today.
0:42.3	Bloomberg Audio Studios, Podcasts, Radio News. This is Masters in Business with Barry Rittholz on Bloomberg Radio.
0:50.3	This week on the podcast, I have an extra special guest. The Vanguard groups, Karen Recy,
0:57.3	the person who is responsible for so many initiatives, so much growth, so many new products,
1:04.5	including the Vanguard RIA, the internal advisory service that runs $350 billion. This is a fascinating conversation.
1:14.2	If you're at all interested in what it's like to be part of a fast-growing organization
1:19.6	that is racking up trillions of dollars and assets, what it's like to create new initiatives,
1:26.7	really, this is a tour to force conversation.
1:29.1	She has just concluded about 28 years at Vanguard and is moving over to Harbor Vest, which is the
1:35.0	outside private equity shop that Vanguard has been working with. I thought this conversation was
1:41.0	fascinating, and I think you will also, with no further ado, my
1:45.4	conversation with the Vanguard Group and Harbor Vests, Karen Reesie. Thanks for having me, Barry.
1:53.2	I'm happy to be here. I'm happy to have you. I want to talk about your time at Vanguard,
1:58.1	but before I do that, Bachelors and Finance MBA from Villanova, finance always
2:04.5	was the career plan? That's what it kind of looks like. Yes, I think it looks that way, but I'll say
2:10.3	I got more intentional over time, Barry, but no, I initially actually wanted to go to art school.
	...

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