John Hollyer, the principal and global head of Vanguard Fixed Income Group, will retire at the end of June after 32 years at the firm.
Sara Devereux, global head of rates, will succeed him as the head of the fixed income team, which oversees more than $2 trillion in assets distributed among more than 115 active and index bond funds across a range of maturities in the taxable and tax-exempt markets as well as the firm's money market lineup. Devereux will be leading a team of 185 that aims to deliver superior risk-adjusted returns to Vanguard clients, according to a company statement.
"Throughout more than three decades of distinguished service, John has embodied the Vanguard mission of helping drive better outcomes for investors," said Vanguard Chief Investment Officer Greg Davis in a statement.
"As a thoughtful steward of talent, John has amplified the world-class legacy of Vanguard Fixed Income Group, building out our active management capabilities and cultivating and retaining talented leaders, such as his experienced and capable successor, Sara Devereux," added Davis.
