SOUTH BEND, Ind. (AP) A long-time leader of one of the world’s largest investment management companies has been elected chairman of the University of Notre Dame’s board of trustees.

The university announced Friday that John Brennan, chairman emeritus and former chief executive officer of the Vanguard Group, will succeed Richard Notebaert on July 1. Notebaert has served as chairman for nine years.

Brennan was elected president of Vanguard in 1989 and served as chief executive officer from 1996 to 2008 and as chairman of the board from 1998 to 2009.

Notebaert is the retired chairman and chief executive officer of Qwest Communications International.

Both serve as fellows of the university, the 12-member body of lay people and priests who elect trustees, adopt bylaws, and are charged with maintaining Notre Dame’s Catholic character.