Michael A. Cirami, CFA, and Eric A. Stein, CFA, Appointed Co-Directors of
Eaton Vance Global Income Group; Mark S. Venezia, CFA, to Retire
John R. Baur Appointed Director of Global Portfolio Analysis; Michael P.
O'Brien, CFA, Appointed Director of Global Trading
Kathleen C. Gaffney, CFA, Named Co-Manager of Eaton Vance Strategic Income
BOSTON, Nov. 27, 2012
BOSTON, Nov. 27, 2012 /PRNewswire/ -- Eaton Vance Management, a subsidiary of
Eaton Vance Corp. (NYSE: EV), announced today the appointment of Michael A.
Cirami, CFA, and Eric A. Stein, CFA, as Co-Directors of the Eaton Vance Global
Income Group, effective December 6^th. They replace Mark S. Venezia, CFA, who
has indicated his intention to retire on or about year end. Also within the
Global Income Group, John R. Baur has been appointed Director of Global
Portfolio Analysis, responsible for quantitative analysis of global portfolio
exposures, and Michael P. O'Brien, CFA, has been named Director of Global
Trading, responsible for all global income trading and operations. In
addition to their new responsibilities, Messrs. Cirami, Stein and Baur will
retain their current portfolio management duties.
In conjunction with the other announced changes, Kathleen C. Gaffney, CFA,
will join Mr. Stein as co-portfolio manager of Eaton Vance Strategic Income
Fund (Class A: ETSIX), replacing Mr. Venezia. Ms. Gaffney joined Eaton Vance
in October 2012 as Co-Director of Investment Grade Fixed Income. She was
formerly a fixed income portfolio manager at Loomis, Sayles & Company.
Since joining Eaton Vance in 1984 to manage Eaton Vance Government Obligations
Fund, Mr. Venezia has pioneered the development of the firm's mortgage-backed
securities and global income strategies, and founded the Global Income Group.
Under his leadership, the Global Income Group has grown to a staff of 36
people, with capabilities spanning global macro absolute return, strategic
income, emerging market local income, diversified currency income and
government income strategies. As of October 31, 2012, the Global Income Group
managed $17.1 billion in fund and separate account assets.
"Mark Venezia leaves Eaton Vance with a record of outstanding accomplishment
as an investment manager and business builder," said Payson F. Swaffield, CFA,
Eaton Vance's Chief Income Investment Officer. "With the leadership of the
Global Income team he put in place, I am confident that Eaton Vance is
positioned for continued success in this core investment franchise."
Mr. Cirami joined Eaton Vance in 2003 after holding positions with State
Street Bank in Boston, Luxemburg and Munich and with BT&T Asset Management in
Zurich. He earned a B.S. in business administration and economics, cum laude,
from Mary Washington College and an M.B.A., 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.
Mr. Stein originally joined Eaton Vance in 2002 and rejoined the company in
2008 after working on the Markets Desk of the Federal Reserve Bank of New York
and in the Alternative Investments division of Citigroup. He earned a B.S.,
cum laude, in business administration from Boston University and an M.B.A. in
analytic finance and economics, with honors, from the University of Chicago's
Booth School of Business.
Mr. Baur joined Eaton Vance in 2005 as an analyst covering Latin America and
became a portfolio manager in the Global Income Group in 2008. From 1995 to
2002, he was an engineer with Applied Materials. Mr. Baur earned a B.S. in
mechanical engineering from M.I.T. and an M.B.A. from the Johnson Graduate
School of Management at Cornell University.
Mr. O'Brien joined Eaton Vance in 2005 as a global fixed income trader.
Previously, he was affiliated with Wellington Management Company and Brown
Brothers Harriman. Mr. O'Brien earned a B.A. in economics and Spanish from
Colby College, and an M.S. in finance from the Carroll School of Management at
Eaton Vance Corp (NYSE: EV) is one of the oldest investment management firms
in the United States, with a history dating to 1924. Eaton Vance and its
affiliates managed $199.5 billion in assets as of October 31, 2012, offering
individuals and institutions a broad array of investment strategies and wealth
management solutions. The Company's long record of providing exemplary
service, timely innovation and attractive returns through a variety of market
conditions has made Eaton Vance the investment manager of choice for many of
today's most discerning investors. For more information about Eaton Vance,
About Risk: Fund share values are sensitive to stock market volatility.
Investments in foreign instruments or currencies can involve greater risk and
volatility than U.S. investments because of adverse market, economic,
political, regulatory, geopolitical, or other conditions. In emerging
countries, these risks may be more significant. Smaller companies are
generally subject to greater price fluctuations, limited liquidity, higher
transaction costs and higher investment risk than larger, established
companies. Derivatives instruments can be used to take both long and short
positions, be highly volatile, result in economic leverage (which can magnify
losses), and involve risks in addition to the risks of the underlying
instrument on which the derivative is based, such as counterparty, correlation
and liquidity risk. No Fund is a complete investment program and you may lose
money investing in a Fund. The Fund may engage in other investment practices
that may involve additional risks and you should review the Fund prospectus
for a complete description.
Before investing, investors should consider carefully the investment
objective, risks, charges and expenses of a mutual fund. This and other
important information is contained in the prospectus and summary prospectus,
which can be obtained from a financial advisor. Prospective investors should
read the prospectus carefully before investing.
Mutual fund shares are not insured by the FDIC and are not deposits or other
obligations of, or guaranteed by, any depository institution. Shares are
subject to investment risks, including possible loss of principal invested.
Funds distributed by Eaton Vance Distributors, Inc., Two International Place,
Boston, MA 02110. Member FINRA/SIPC
SOURCE Eaton Vance Management
Contact: Colleen Lavery, +1-617-672-8995, email@example.com
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