The chief of an investment team that has more than $2 trillion in AUM is preparing to pass the reins.

Yesterday, Greg Davis, chief investment officer of Vanguard [profile], confirmed that Sara Devereux, principal and global head of rates for the fixed income group, will soon take over as global head of the whole fixed income group. Devereux will succeed current fixed income group chief John Hollyer, also a Vanguard principal, who will retire on June 30. The unit includes a team of 185 people supporting more than $2 trillion in AUM and more than 115 funds (including both active and passive ones).

Davis lauds Hollyer as someone who "has embodied the Vanguard mission of helping drive better outcomes for investors.'

"He has continuously raised the bar by championing an investment culture of innovation, excellence, and discipline," Davis states. "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."

Devereux joined Vanguard in 2019 after 21 years at Goldman Sachs, where she worked on mortgage structured products in the securities division. she is an alumna of the University of Pennsylvania's Wharton School and of UNC Chapel Hill.

Hollyer has spent 21 years at Vanguard. He has served in a variety of roles over the decades, and in 2017 he rose to lead all of fixed income and joined the firm's global investment committee. He, too, is an alumnus of the Wharton School. 

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