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(AP) - NAME: George U. "Gus" Sauter

AGE: 58

TITLE: Chief investment officer, The Vanguard Group Inc., with responsibility to oversee $1.5 trillion in stock and bond mutual fund assets and other investments.

TRANSITION PLANS: Sauter is leaving Vanguard on Dec. 31, and taking a few months off to consider new opportunities. Options include teaching at a university level, or promoting financial education to average investors or perhaps professional athletes.

EDUCATION: A.B. in economics from Dartmouth College and an M.B.A. in finance from The University of Chicago.

CAREER: After serving as a trust investment officer with First Bancorp of Ohio, Sauter joined Vanguard in 1987 as head of the internal equity management group. He was named Vanguard's first-ever chief investment officer in 2003.

FUN FACT: Born and raised in Mansfield, Ohio, Sauter got an early start in finance. At age 8, he began taking deposits from neighbors and making loans.

BEST INVESTMENT ADVICE: "Think long-term. Something I learned very early on is that investors frequently get caught up in the moment and in the noise around them. That tends to serve investors very poorly. They'll be much more successful if they think long-term and don't try to react to what's going on around them."

LAST BOOK READ: "The Most Important Thing: Uncommon Sense for the Thoughtful Investor" by Howard Marks. Sauter: "Howard is a bit of a sage and a thoughtful guy who's down-to-earth in his approach to investing."

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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