There’s a new Vanguard CEO that will be taking over the investment management company next year.

Tim Buckley, the Vanguard’s current Chief Investment Officer, will be taking over as the new CEO starting on Jan. 1, 2018. This will have him replacing current Vanguard CEO Bill McNabb. McNabb will continue to act as the Chairman of the Board once Buckley takes over as CEO.

The decision to have Tim Buckley take over as the new Vanguard CEO was made by the company’s Board of Directors. The announcement also includes him immediately taking over as the President and Director of the company.

Tim Buckley taking over as the new Vanguard CEO next year will bring an end to Bill McNabb’s roughly 10 years as the company’s CEO. It will also make Buckley the fourth CEO of  Vanguard since its founding in 1975.

“Thanks to Bill’s strong leadership over the past ten years, Vanguard is well-positioned to continue helping clients achieve investment success,” Buckley said in a statement. “I look forward to continuing to work closely with Bill over the next six months as I transition to my new role.”

With Tim Buckley taking over the next Vanguard CEO, the investment management company will need a new Chief Investment Officer. Luckily, it already has one picked out. When Buckley takes over as CEO at the start of the upcoming year, Greg Davis will take over the new CEO’s previous role. He is currently the global leader of Vanguard’s Fixed Income Group.

As of this writing, William White did not hold a position in any of the aforementioned securities.