Vanguard targets doubling European assets to $1 trillion by 2030

* US-based investment giant is eyeing faster expansion overseas

* To ​expand European ⁠ETF range by at least ​a third - Europe head

* Cyber risk 'keeps all of us up at night', Europe head says

LONDON, May ​12 (Reuters) - ‌Vanguard will expand its product range for everyday investors in Europe, aiming to roughly double its ⁠regional assets to $1 trillion within five years and become ⁠Britain's biggest retail investment platform, its ​head of Europe told Reuters.

The world's second-largest asset manager, overseeing $12 trillion globally, has helped upend the industry alongside U.S. rival BlackRock by popularising low-cost index trackers for "DIY" investors, drawing ​money away ‌from traditional stock-picking firms.

Vanguard plans to expand its exchange-traded fund (ETF) product range in Europe to 60-70 products from about 40, including new fixed income, multi-asset and geographically focused funds, Cleborne said in an interview.

The Pennsylvania-based firm will also explore more distribution ​tie-ups in Europe with fintechs and expand teams in Germany, Spain and France, he ‌said.

"A big part of our focus is to try to help people (in Europe) see themselves as investors," Cleborne said.

The ‌target to roughly double European assets from about $535 billion is part of a broader plan under CEO Salim Ramji to double overseas assets to $2 trillion within five years.

Vanguard's ​UK ambition pits it against a highly competitive market. Achieving it would mean overtaking Hargreaves Lansdown, which ‌is currently about five times larger.

The European Union's push to encourage more retail investing is welcome but cannot replace tax incentives from governments, Cleborne said. "Honestly, that can't come ⁠fast enough," ⁠he said.

AI RISKS 'KEEP US UP AT NIGHT'

Vanguard is ‌exploring using AI to provide clients with more support and financial analysis, Cleborne said, adding the company is ​also engaging ​with Anthropic on cyber risks posed by its new Mythos ‌model.

"That's something that keeps all of us up at night, and we want to make sure that we are staying ahead," Cleborne said.

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