Vanguard has appointed Paul Jakubowski as head of investment for Europe. He replaces Ken Volpert who retires in August.
Jakubowski, who currently works as the global head of Vanguard’s taxable credit group, will also take the position of global head of fixed income indexing, and will be responsible for all of bond indexing operations worldwide.
Christopher Alwine, currently head of municipal investment, will take over Jakubowski’s previous responsibilities, overseeing the active corporate bond portfolio management and trading teams in the US, Europe, and Asia-Pacific and will be based in Vanguard’s US headquarters in Malvern.
Alwine will be responsible for the oversight of the global taxable credit research team and the Stable Value Group. He joined Vanguard in 1990 and has more than twenty years of investment experience.
Meanwhile, Paul Malloy, currently head of fixed income in Europe, will assume Alwine’s current role leading the municipal bond team of 30 investment professionals who manage more than $183bn 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 US. In his new role, Malloy will be based in Malvern.
In addition, Christopher Wrazen, manager of the $103.5bn Vanguard Total International Bond Index fund, will move to manage the bond index group in Europe. He has been with fixed income group since 2008 and his team currently manages more than $200bn in more than 20 bond index fund portfolios.
As part of the wide-ranging reshuffle Josh Barrickman, currently head of fixed income indexing for the Americas, will become sole portfolio manager on nine funds, including the Vanguard Total International Bond Index fund.