Vanguard Investment Symposium

Joseph H. Davis, Ph.D., is Vanguard’s global chief economist and global head of the Investment Strategy Group. He leads a global 75-person research organization that is responsible for Vanguard’s thought leadership agenda as well as the development and oversight of the firm’s investment methodologies and models.

Joe chairs the firm’s Strategic Asset Allocation Committee, which governs multi-asset-class investment solutions, and he is a member of the Senior Investment Committee for Vanguard’s Fixed Income Group. He also holds roles on global advice and product committees.

Joe is a frequent keynote speaker, has published white papers in leading academic and practitioner journals, and currently serves on the editorial board of The Journal of Portfolio Management and the Journal of Fixed Income. Previously, Joe has been one of few nonacademic researchers ever to be recognized as a Research Fellow by the National Bureau of Economic Research for his contributions to our understanding of U.S. business cycles.

Joe earned his B.A. summa cum laude from Saint Joseph’s University, earned his M.A. and Ph.D. in economics at Duke University, and is a graduate of the Advanced Management Program at The Wharton School of the University of Pennsylvania.

Sara Devereux is a principal at Vanguard and global head of its Fixed Income Group, which manages over $2 trillion in assets. The group focuses on portfolio management, trading, and research for Vanguard’s internally managed fixed income funds and ETFs, including actively managed bond and money market portfolios and bond index portfolios. She is also the chair of the Senior Investment Committee team responsible for Vanguard’s actively managed fixed income portfolios, a member of the firm’s Global Investment Committee, and a member of its Investment Risk Council.

Prior to her current role, Ms. Devereux served as global head of rates, with oversight of all active rates, money market portfolios, and rates-related strategies across the active taxable fixed income franchise. She also had oversight of foreign exchange and derivatives trading activities.

Before joining Vanguard in 2019, Ms. Devereux was a partner at Goldman Sachs, where she spent over 20 years in mortgage backed securities and structured products trading and sales. Earlier in her career, she worked at HSBC in risk management advisory and interest rate derivatives structuring. She started her career as an actuary at AXA Equitable Life Insurance.

Ms. Devereux holds 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.