The Vanguard Group, Inc.Private± Mixed
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Hightower Advisors has hired Marco De Freitas, the former head of digital and analytics at Vanguard, as its new president, effective in mid-fourth quarter 2026. He replaces Roberto Stewart, who stepped down from the role in June, less than three months after joining the firm. De Freitas will report directly to CEO Larry Restieri, with responsibility for Hightower's operations, technology, enterprise AI strategy and investment platform; prior to Vanguard he spent a decade at TD Ameritrade, where he led digital, client experience, investment products and advice. The firm also announced the appointment of Jennifer Frazier, a partner at Hightower Signature Wealth, as president of that division, which now has more than $40 billion in AUM; Hightower launched Signature Wealth last October as its branded RIA, seeded by Dallas-based Frontier Investment Management, a Hightower partner firm that Frazier was part of. Mike Hirsbrunner, who also came from Frontier, will serve as chief operating officer at HTSW, while Penny Phillips will continue as head of advisor growth. The moves follow news last month that HTSW added Stearns Financial Group, an affiliate firm with a 30-person team managing about $2.5 billion in client assets.