Asset Management

Vanguard’s European arm scores profit increase as platform revenue surges 147%

The US asset manager recorded a big rise in revenue generated by its UK investment platform, which was launched in 2017

Client numbers on Vanguard’s UK platform have grown to 664,000 and it now oversees £25bn of assets John Keeble/Getty Images
Client numbers on Vanguard’s UK platform have grown to 664,000 and it now oversees £25bn of assets John Keeble/Getty Images

Vanguard, the US asset management giant, increased profit across its European operations by more than a third last year, helped by a 147% revenue surge at its UK investment platform. 

Vanguard Asset Services — which incorporates the $9.3tn asset manager’s businesses in the UK and Switzerland — recorded a pre-tax profit of £31.6m in 2023, up from £23.2m the previous year, according to accounts filed with Companies House.

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