Roger Aliaga-Díaz, Ph.D., is global head of portfolio construction and chief economist for the Americas at The Vanguard Group, Inc. His areas of expertise are economics, macroeconomic forecasting, and portfolio construction.
As a senior leader in Vanguard’s Investment Strategy Group, Roger is the vice-chair of Vanguard’s Strategic Asset Allocation Committee, which oversees the asset allocation of multi-asset-class funds such as the Vanguard Target Retirement Funds. He is also a member of Vanguard’s Advice Policy Committee and the Dynamic Asset Allocation Council, and chair of Vanguard’s Time-Varying Asset Allocation subcommittee.
Roger and his global research team develop multi-asset-class strategies and conduct quantitative research on asset allocation, investment solutions, and retirement topics. Along with his team, Roger built two proprietary portfolio construction models that underpin the firm’s investment advice methodology around the globe: the Vanguard Life-Cycle Investing Model and the Vanguard Asset Allocation Model.
Before joining Vanguard in 2007, Roger served as a visiting professor of macroeconomics at Drexel University’s LeBow College of Business.
Roger has published numerous studies on investment and macroeconomic issues and has presented his research at various industry and academic conferences, including the Board of Governors of the Federal Reserve System, the American Enterprise Institute for Public Policy Research, and the American Economic Association. He is frequently interviewed by financial media around the world. Roger earned a B.A. in economics from Universidad Nacional de Córdoba, Argentina, and a Ph.D. in economics from North Carolina State University.