James H. Gately retired from the Vanguard Group in 2007, having been a managing director there since joining the company in 1989. Most recently, he was responsible for the company’s international business; he also headed Vanguard’s institutional business from 1989-94; the individual investor group from 1995-2002; and the investment programs and services area from 2003-05. Before joining Vanguard, Mr. Gately held senior management positions in the pension area of the Prudential Asset Management Group. Earlier in his career, he served as a securities analyst with Prudential and an analyst and salesperson for H.C. Wainwright and Company, Inc. Mr. Gately is a past member of the board of directors of the United Way of Southeastern Pennsylvania (1999-2005), serving as Board Chair from 2003 to 2005. He was also formerly a board member of the William Penn Foundation, the Fairmount Park Conservancy, and the Vanguard Charitable Endowment Program. He is a chartered financial analyst and has spoken at conferences and seminars on a wide variety of investment and investment management issues. He received his MBA from Harvard Business School and his bachelor’s degree from Wesleyan University.