John Bonnell was named managing director and portfolio manager at Thornburg Investment Management.
The position is new, spokesman Michael Corrao said in an email. Mr. Bonnell will be co-manager of seven municipal bond mutual funds, including the $5.9 billion Limited Term Municipal Fund, as well as institutional strategies and separately managed accounts alongside portfolio managers David Ashley and Eve Lando.
They report to Ben Kirby and Jeff Klingelhofer, co-heads of investments.
The trio will oversee a total of $9.3 billion in assets under management.
Mr. Bonnell was previously a portfolio manager and co-leader of municipal bond strategies at USAA. Officials there could not be immediately reached for further information.
As of Feb. 28, Thornburg Investment Management had $47 billion in total AUM.