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Vanguard's Global Head of Fixed Income to Retire

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What You Need to Know

  • John Hollyer leaves Vanguard after 32 years at the firm.
  • He will be succeeded by Sara Devereux, the current head of rates, who joined Vanguard from Goldman in 2019.
  • Vanguard's global fixed income team oversees more than $2 trillion in assets distributed among 115 funds.

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.

Hollyer joined Vanguard in 1989 and ascended to the global head of fixed income in 2017. In those 28 years he served as a fixed income and money market portfolio manager and, prior to his current role, led the Investment Risk Management Group, building it into the global organization that now includes more than 80 professionals. Since 2017, Hollyer has also served on the firm’s Global Investment Committee, and he chairs the senior investment strategy team for Vanguard’s actively managed fixed income portfolios.

Devereux joined Vanguard as global head of rates in 2019 from Goldman Sachs, where she spent two decades specializing in mortgage-backed securities and structured products. She has a B.S. in mathematics from the University of North Carolina at Chapel Hill and an MBA from The Wharton School of the University of Pennsylvania.

Pictured: John Hollyer and Sara Devereux


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