* 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

By Iain Withers

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 ( BLK ) 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.

($1 = 0.7350 pounds)