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Vanguard makes key appointments in Fixed Income Group

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Vanguard has made four key appointments within its Fixed Income Group as part of the firm’s long-standing practice of periodically rotating investment professionals to broaden their experience and strengthen and deepen the firm’s equity and bond management teams.

“We have employed rotations as a way to build global investment teams that are deep, diverse, and experienced. Along with low costs, our investment teams are a source of competitive strength and the primary driver of fund performance over time,” says Vanguard Chief Investment Officer Greg Davis.
 
Paul Jakubowski, global head of the Taxable Credit Group, will be assuming the position of head of Investments-Europe and global head of Fixed Income Indexing, and responsible for all of Vanguard’s bond indexing operations worldwide. Vanguard manages USD746 billion in indexed bond assets in 112 funds and ETFs. Jakubowski, who has worked in investment management since joining Vanguard in 2000, replaces Ken Volpert, who is retiring in August.
 
Christopher W Alwine, head of Municipal Investment, will assume Jakubowski’s previous responsibilities, overseeing the active corporate bond portfolio management and trading teams in the US, Europe, and Asia-Pacific. In addition, he will be responsible for the oversight of the global taxable credit research team and the Stable Value Group. Alwine joined Vanguard in 1990 and has more than twenty years of investment experience.
 
Paul Malloy, currently head of fixed income in Europe, will assume Alwine’s role leading the municipal bond team of 30 investment professionals who manage more than USD183 billion in 12 municipal bond funds. Malloy joined Vanguard in 2005 and the Fixed Income Group in 2007, and has held various portfolio management positions in Vanguard’s offices in London and the United States.
 
Christopher Wrazen, CFP, manager of the USD103.5 billion Vanguard Total International Bond Index Fund, will move to manage the Bond Index Group in Europe. Wrazen has been with the Fixed Income Group since 2008 and his team currently manages more than USD200 billion in more than 20 bond index fund portfolios. Josh Barrickman, head of fixed income indexing – Americas, will become sole portfolio manager on nine funds, including Vanguard Total International Bond Index Fund.
 
Volpert joined Vanguard in 1992 and managed Vanguard Total Bond Market Index Fund from 1992 to 2014. He assumed the position of head of Investments-Europe and global head of Fixed Income Indexing in 2014.
 
“Ken was instrumental in the development of Vanguard’s global bond index fund lineup, as well as ETF shares for Vanguard’s bond index funds. He also helped build out our European investment team as Vanguard globalised its investment management function” says Davis. “Ken was a tremendous influence on my career, and a great mentor and developer of talent during his 26-year tenure at Vanguard.”

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