Sara Devereux, global head of rates at Vanguard, is set to become the new global head of the Malvern-based giant’s fixed-income group. Her step-up comes when its current leader, John Hollyer, retires at the end of June. Jeff Blumenthal covered the transition for the Philadelphia Business Journal.

Hollyer has spent more than 30 years at Vanguard, during which he “… continuously raised the bar by championing an investment culture of innovation, excellence, and discipline,” said Vanguard Chief Investment Officer Greg Davis.

He also worked tirelessly at “… building out our active management capabilities and cultivating and retaining talented leaders, such as his experienced and capable successor, Sara Devereux,” said Davis.

Devereux is a Goldman Sachs veteran who spent 20 years at the firm specializing in mortgage-backed securities and structured products. She joined Vanguard two years ago.

In her new position, she takes over one of the world’s largest bond investment managers. She will oversee more than $2 trillion in assets. Also, she’ll guide more than 115 active and index bond funds across a variety of maturities in the taxable and tax-exempt markets and the firm’s money market lineup.

Read more about Vanguard in the Philadelphia Business Journal.