Thornburg Investment Management has hired Christopher M. Ryon, former head of Vanguard Group's intermediate- and long-term tax-exempt funds, as an associate portfolio manager.

Ryon will join Thornburg's municipal bond group, which manages five funds and approximately $3 billion in assets, July 14.

"I've gotten to know him over the last few years at various conferences and always enjoyed talking with him," said George Strickland, co-portfolio manager at Thornburg. "He's a fun guy to work with, who brings a lot of tools to the table... He had everything we were looking for."

Before leaving last November, Ryon had worked at Vanguard nearly 23 years. In his most recent role, he supervised 12 intermediate- and long-term bond funds with assets of $45 billion. Prior to that, he served as a portfolio manager and municipal bond analyst with the company.

Ryon holds a B.S. in accounting from Villanova University and an MBA from Drexel University.

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