Vanguard Australia has announced that Frank Kolimago will become managing director from August, replacing Colin Kelton who is transitioning to a new position as global head of marketing based out of Philadelphia.

Kolimago is a principal and head of Vanguard personal advisor services, which provides Vanguard clients with a comprehensive ongoing advice service offering.

Australia was Vanguard's first-ever territory outside the US.

"Given the growth in the business over that time it is an exciting opportunity to be joining the business," said Kolimago.

He joined Vanguard in 1996 and has served in a variety of roles. In 2000, he moved to Japan to assist in establishing and managing Vanguard's Tokyo office. In 2003, Kolimago worked in the institutional division as a principal in Scottsdale, Arizona.

In May 2015 he joined Vanguard personal advisor services to lead the team just prior to the official launch of the service. Personal advisor services is a hybrid advisory service, combining a robust digital experience and sophisticated proprietary technology, with the counsel and oversight of a human advisor.

Kolimago earned a BSc in finance from Saint Joseph's University and an MBA from Villanova University, and has completed the advanced management programme at the Wharton School of the University of Pennsylvania. Before joining Vanguard, Kolimago was a vice president in the corporate banking division of PNC Bank.