The Vanguard Group, the Chester County mutual fund giant with $1.85 trillion under management, started a Canadian investment operation, based in Toronto, the company said.
Hired to run Vanguard Investments Canada Inc. is Atul Tiwari, formerly an executive with BMO Financial Group and past president and chief executive of Harris Insight Funds.
Vanguard's Canadian plan is to start by selling mutual funds and exchange-traded funds through investment advisers.
Vanguard's first overseas business was in Australia in 1996. Foreign operations account for 8 percent of its assets. - Harold Brubaker