(Bloomberg) -- Vanguard, the world’s largest mutual fund company, said two long-time managers of the firm’s funds, Lucius T. Hill and Karl E. Bandtel, will retire next June.
Hill, a senior managing director at Wellington Management in Boston, has been one of the managers of the $14.3 billion Vanguard Long-Term Investment Grade Fund since 2008. His Wellington colleague, Scott St. John, will assume sole responsibility for Wellington’s portion of the fund, Vanguard said.
Bandtel, also a senior managing director at Wellington, has worked on the $9.2 billion Vanguard EnergyFund since 1992. Greg LeBlanc of Wellington will be added to the fund as a co-portfolio manager.
Vanguard, based in Valley Forge, Pa., oversees more than $3.4 trillion. Wellington helps manage $313 billion of those assets.
