Vanguard Group has hired a former executive at its rival, Fidelity Investments, to head a new advice and wealth management division beginning in January.

Vanguard has been a positive force in democratizing investing, helping to give tens of millions of investors the best chance for investment success,”

Vanguard, one of the largest money managers in the world, is hiring Canadian executive Joanna Rotenberg to lead its newly created advice and wealth management division.

Vanguard will establish a new Advice & Wealth management division aimed at enhancing current capabilities, to be led by former Fidelity executive Joanna Rotenberg, who will take the role in January and serve as a managing director and member of the firm’s senior leadership team.

Money manager Vanguard said on Monday it will establish a new advice and wealth management division led by industry veteran Joanna Rotenberg. The move comes as leading asset managers expand their wealth management services to meet growing client demand in the backdrop of an increasingly complex and volatile investment landscape.