News release

Long-Tenured Vanguard Investment Leader John Hollyer to Retire

Vanguard Names Sara Devereux New Global Head of Fixed Income

VALLEY FORGE, PA (April 22, 2021)—After 32 years with the firm, Vanguard today announced that John Hollyer, principal and global head of Vanguard Fixed Income Group, will retire at the end of June 2021. Sara Devereux, who currently serves as global head of rates, will succeed Mr. Hollyer at the helm of the fixed income team.

“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. “He has continuously raised the bar by championing an investment culture of innovation, excellence, and discipline. 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.”

Mr. Hollyer joined Vanguard in 1989 and was named global head of fixed income in 2017. During his tenure, he served as a fixed income and money market portfolio manager and, prior to his current role, led the Investment Risk Management Group and built that into a global organization now composed of more than 80 professionals. As a tenured Vanguard investment leader, he has served on the firm’s Global Investment Committee since 2017, and currently chairs the senior investment strategy team for Vanguard’s actively managed fixed income portfolios.

Ms. Devereux brings more than 20 years in investment experience to her new role. She was named Vanguard’s global head of rates in 2019, when she joined the firm from Goldman Sachs, where she spent two decades specializing in mortgage-backed securities and structured products. Ms. Devereux has a B.S. in mathematics from the University of North Carolina at Chapel Hill and an M.B.A. from The Wharton School of the University of Pennsylvania.

Overseeing more than $2.0 trillion in assets, Vanguard Fixed Income Group is one of the largest bond investment managers in the world. The team oversees 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. Through a philosophy of “smart-risk” taking, combined with the deep specialization and collaborative culture of its 185-person global team, the Fixed Income Group aims to deliver superior risk-adjusted returns to Vanguard clients.


About Vanguard

Vanguard is one of the world’s largest investment management companies. As of March 31, 2021, Vanguard managed $7.5 trillion in global assets. The firm, headquartered in Valley Forge, Pennsylvania, offers 438 funds to its more than 30 million investors worldwide. For more information, visit

All figures as of March 31, 2021 unless stated otherwise.

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