One retirement and four managers taking on new roles. Those are the changes Vanguard announced on Friday in its Fixed Income Group.
Ken Volpert, its global head of Fixed Income Indexing and head of investments — Europe will be retiring in August after 26 years.
He’s being replaced by Paul Jakubowski, the current global head of Vanguard’s Taxable Credit Group, who will take over responsibility for all of Vanguard’s bond indexing operations, which total $746 billion in assets distributed among 112 mutual funds and ETFs. That’s roughly half the more than $1.4 trillion under management in Vanguard’s Fixed Income Group.
(Related: Vanguard Launches Its First Actively Managed US ETFs)
Taking over for Jakubowski will be Christopher W. Alwine, currently the head of Municipal Investment. In addition to overseeing the active corporate bond portfolio management and trading teams in the U.S. Europe and Asia-Pacific, Alwine will be overseeing the global taxable credit research team and Stable Value Group.
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.