Eric A. Stein, CFA, Appointed Chief Investment Officer, Fixed Income, of Eaton Vance Management

Rhea-AI Summary

Eaton Vance Corp. (NYSE: EV) has appointed Eric A. Stein, CFA, as the new Chief Investment Officer for Fixed Income at Eaton Vance Management, effective November 1, 2020. He succeeds Payson F. Swaffield, who is retiring. Stein previously served as Co-Director of Global Income Investments and will oversee various income market strategies, managing approximately $90.2 billion in assets as of July 31, 2020. His promotion aims to enhance investment excellence and client service.

Positive

• Appointment of Eric A. Stein as CIO for Fixed Income is expected to enhance leadership in income strategies.
• Eaton Vance Management currently manages approximately $90.2 billion in income strategies.
• Stein's extensive experience at Eaton Vance since 2002 adds stability to the leadership team.

Negative

• None.

BOSTON, Sept. 30, 2020 /PRNewswire/ -- Eaton Vance Corp. (Eaton Vance) (NYSE: EV) today announced the appointment of Eric A. Stein, CFA, as Chief Investment Officer, Fixed Income, of Eaton Vance Management (EVM), effective November 1, 2020.  Mr. Stein will replace Payson F. Swaffield, CFA, who previously announced his intention to retire. Mr. Stein will report to Thomas E. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance.

As Chief Investment Officer, Fixed Income, Mr. Stein will be responsible for overseeing the management of investment strategies for EVM and its affiliate Calvert Research and Management (Calvert) across the income markets, including floating-rate loans, high-yield bonds, municipal bonds, emerging market debt, mortgage-backed and asset-backed securities, investment-grade corporate and government bonds, and multi-asset income solutions for individual and institutional clients. As of July 31, 2020, assets under management in EVM and Calvert income strategies totaled $90.2 billion.

Mr. Stein has served as Co-Director of Global Income Investments with Michael A. Cirami, CFA, since 2012. Mr. Cirami will become sole Director of Global Income Investments, in which capacity he will continue to lead EVM's Global Income group, reporting to Mr. Stein.

"I am pleased to announce Eric's promotion to Chief Investment Officer, Fixed Income," said Mr. Faust. "Under his leadership, I am confident that EVM's income investment teams will continue the commitment to investment excellence and outstanding client service that has been their hallmark throughout Payson's long tenure." 

Addressing Mr. Cirami's elevation to sole Director of Global Income Investments, Mr. Stein commented, "Mike is an incredibly talented investor and passionate business builder whose leadership and vision have been instrumental to our success in global income investing. I look forward to continuing to work closely with Mike in our new roles."

Mr. Stein joined EVM in 2002, serving as a trading associate and research associate in the Global Income group before leaving to attend business school in 2005. He rejoined EVM's Global Income group in 2008 as a research analyst from the Federal Reserve Bank of New York, where he worked on the Markets Desk. He has additional experience at Citigroup Alternative Investments. Mr. Stein earned a B.S., cum laude, from Boston University and an MBA, with honors, from the University of Chicago Booth School of Business. He is a CFA charterholder, term member of the Council on Foreign Relations and member of the CFA Society Boston, Boston Committee on Foreign Relations, Boston Economic Club, Enterprise Club and AEI Boston Council.  

Mr. Cirami joined EVM in 2003 and started his career in the investment management industry in 1998. Before joining EVM, he worked at State Street Bank and BT&T Asset Management. Mr. Cirami earned a B.S., cum laude, from Mary Washington College and an MBA with honors from the William E. Simon School at the University of Rochester. He also studied at WHU Otto Beisheim School of Management in Koblenz, Germany. He is a CFA charterholder and member of the CFA Society Boston, Boston Committee on Foreign Relations and the Ludwig von Mises Institute.

About Eaton Vance

Eaton Vance provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Calvert and Hexavest, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. As of July 31, 2020, Eaton Vance had consolidated assets under management of $507.4 billion. Exemplary service, timely innovation and attractive returns across market cycles have been hallmarks of Eaton Vance since 1924. For more information visit eatonvance.com.

Investing entails risk and there can be no assurance the Eaton Vance (and its affiliates) will achieve profits or avoid incurring losses. 

Eaton Vance Management
Two International Place
Boston, MA 02110

 

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SOURCE Eaton Vance Corp.

FAQ

Who has been appointed as CIO for Fixed Income at Eaton Vance?

Eric A. Stein has been appointed as Chief Investment Officer for Fixed Income at Eaton Vance Management.

When will Eric A. Stein officially take on his role?

Eric A. Stein will officially assume his role as CIO on November 1, 2020.

What is the total amount managed by Eaton Vance's income strategies?

As of July 31, 2020, Eaton Vance and Calvert's income strategies managed approximately $90.2 billion.

Who did Eric A. Stein replace as CIO for Fixed Income?

Eric A. Stein replaced Payson F. Swaffield, who is retiring.

What position did Michael A. Cirami hold before becoming sole Director of Global Income Investments?

Michael A. Cirami was serving as Co-Director of Global Income Investments before becoming the sole director.