Vanguard Shakes Up Its Bond Investing Teams

Paul Malloy, currently the head of fixed income in Europe, will assume Alwine's role leading a municipal bond team comprised of 30 professionals managing more than $183 billion in 12 municipal bond funds.

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Christopher Wrazen, who manages Vanguard's $103.5 billion Total International Bond Index Fund and oversees a team that manages more than $200 billion in more than 20 bond index fund portfolios will become the manager of its Bond Index Group in Europe.

Josh Barrickman, head of Fixed Income Indexing- Americas will become the sole portfolio manager of nine funds, including the Total International Bond Index Fund.

All these managers have worked at Vanguard for many years — Alwine since 1990, Jakubowski since 2000, Malloy since 2005, Wrazen since 2008 and Barrickman since 1998.

The management moves in Vanguard's Fixed Income Group reflect the mutual fund giant's "long-standing practice of periodically rotating investment professionals," according to the company's press release.

"We have employed rotations as a way to build global investment teams that are deep, diverse and experienced," said Vanguard Chief Investment Officer Greg Davis, in a statement. "Along with low costs, our investment teams are a source of competitive strength and the primary driver of fund performance over time."