Larry W. Keele, chief financial officer and manager of the $1.9 billion Vanguard Convertible Securities Fund, will retire on June 30, and Stu Spangler will join the fund’s management team and co-manage the U.S. portion of the portfolio with Keele until his retirement.

Keele is a principal and co-founder of Oaktree Capital Management, L.P., an investment advisor to the fund since 1996. He will remain on Oaktree’s board of directors.

The announcement is tight on the heels of a triumphant year at Vanguard. The company estimated $31 billion in inflows during the month of December; surpassing the previous monthly inflow record, also set by Vanguard in 2012, and capping off a $3 trillion asset year.

“Larry and his colleagues at Oaktree have delivered strong long-term results for Vanguard shareholders,” said Bill McNabb, Vanguard CEO.

Spangler joined Oaktree as an analyst in 1997. Two other senior Oaktree portfolio managers—Jean-Paul Nedelec and Abe Ofer—will continue to serve on the management team of the fund overseeing the non-U.S. portion of the portfolio. You can read more about Keele’s career over at Bloomberg.