Vanguard Group hired an executive from Franklin Portfolio Associates to join the portfolio management team of its growth and income fund and its Vanguard Morgan Growth Fund.
Oliver E. Buckley, 54, will co-manage the two funds with John S. Cone, Franklin's president, chief executive, and chairman, who managed the growth and income fund and the Franklin portion of the Morgan Growth Fund since 1999. Vanguard announced the hiring Monday.
Mr. Buckley will become the two funds' lead manager in July when Mr. Cone relinquishes portfolio management responsibilities.
Mr. Buckley will join Vanguard, of Malvern, Pa., at the end of January. He joined Franklin in 2000 as a senior vice president. Franklin of Boston, is a unit of Bank of New York Mellon Corp.
