Printer Friendly

Eaton Vance Appoints Payson F. Swaffield as Chief Income Investment Officer.

Scott H. Page Named Sole Head of the Bank Loan Group; Craig P. Russ Tapped as Co-Manager of Certain Bank Loan Funds

BOSTON -- Eaton Vance Corp. announced today the appointment of Payson F. Swaffield, 51, as Chief Income Investment Officer. In this new position Mr. Swaffield will oversee all fixed income and floating rate income investment areas and participate in the senior management of the Company as a member of the Management Committee. Since 1996, Mr. Swaffield has served as co-head of Eaton Vance's bank loan investment group with Scott H. Page. Mr. Page, 47, now becomes sole head of the bank loan group.

"Payson's appointment as Chief Income Investment Officer is a response to the growth and evolution of our income investment business, and provides our income teams with more streamlined management and more coordinated portfolio oversight," said Thomas E. Faust Jr., Chairman and Chief Executive Officer. "In his eleven years as co-head of our bank loan group, Payson has demonstrated capabilities in investment management, business management and leadership that position him as a strong performer in his new role. I am confident that the record of investment performance and business growth achieved by our income investment groups will continue under his leadership."

In conjunction with Mr. Swaffield assuming his new duties, Craig R. Russ, 44, will replace him as a co-portfolio manager of certain Eaton Vance funds. Mr. Russ will co-manage with Mr. Page the open-end and interval bank loan mutual funds for which Mr. Swaffield previously served as co-manager. These are Floating Rate Portfolio, Senior Debt Portfolio and Eaton Vance VT Floating-Rate Income Fund. Mr. Russ will also replace Mr. Swaffield as a member of the management team of Eaton Vance Diversified Income Fund, a multi-sector income fund.

Eaton Vance's exchange-traded closed-end bank loan funds, Eaton Vance Senior Income Trust (EVF), Eaton Vance Senior Floating-Rate Trust (EFR) and Eaton Vance Floating-Rate Income Trust (EFT), will be managed or co-managed by Mr. Page and John P. Redding, Mr. Page and Mr. Russ, and Mr. Page, respectively. Mr. Swaffield was formerly a co-manager of EVF, EFR and EFT. He will continue to co-manage three multi-sector income exchange-traded closed-end funds, Eaton Vance Limited Duration Income Fund (EVV), Eaton Vance Short Duration Diversified Income Fund and Eaton Vance Credit Opportunities Fund. Mr. Swaffield will assume Mr. Faust's oversight role in the management of EVV.

Mr. Swaffield joined Eaton Vance in 1990 as a senior financial analyst in the bank loan group and became co-portfolio manager and co-head of the group in 1996. Previously he held positions with Northern Trust Bank, Duff & Phelps, Inc., State Street Bank and Conning & Company. Mr. Swaffield is a graduate of Middlebury College and earned an M.B.A. from the University of Chicago Graduate School of Business. He is a Chartered Financial Analyst.

Mr. Page joined Eaton Vance in 1990 as a senior financial analyst in the bank loan group and became co-portfolio manager and co-head of the group in 1996. Previously he held positions with Citicorp and Chase Manhattan Bank. Mr. Page is a graduate of Williams College and earned his M.B.A. from the Amos Tuck School of Dartmouth College. He is a Chartered Financial Analyst.

Mr. Russ joined Eaton Vance in 1997 as an analyst and has been a co-manager of its institutional bank loan funds since 2001 and EFR since 2003. Previously he was with State Street Bank. Mr. Russ is a graduate of Middlebury College and studied at the London School of Economics and Political Science.

Mr. Redding, 44, joined Eaton Vance in 1998 as an analyst and has been a co-manager of EVF since 2001 and also co-manages certain Eaton Vance collateralized loan obligation entities. He currently heads the bank loan group's London office and is responsible for European loan investments. Mr. Redding previously worked at GiroCredit Bank and Creditanstalt-Bankverein and earned his B.S. from State University of New York at Albany.

Eaton Vance Corp., a Boston-based investment management firm, is traded on the New York Stock Exchange under the symbol EV. Through its subsidiaries, Eaton Vance Corp. advises and distributes investment products and services for individual and institutional clients. As of September 30, 2007, the Company had $158.1 billion of assets under management, including $31.6 billion in fixed income and $21.5 billion in floating rate bank loan assets.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Nov 7, 2007
Words:724
Previous Article:Thorp Reed & Armstrong Announces New Attorneys; Highlights Growth.
Next Article:Progressive Gaming to Unveil PrimeLine(TM) Enterprise Edition 1.0 at the 2007 Global Gaming Expo.
Topics:


Related Articles
Eaton Vance Senior Floating-Rate Trust Raises $600 Million in Initial Public Offering.
Eaton Vance Limited Duration Income Fund Expands Portfolio Management Team.
Eaton Vance Floating-Rate Income Trust Raises $680 Million in Initial Public Offering.
Eaton Vance Announces the Introduction of Diversified Income Fund.
NPO compensation in the spotlight: best practices help tax-exempt entities avoid penalties.
State Street Chairman & CEO Ron Logue and Vice Chairman & Head of Global Asset Servicing and Trading Jay Hooley to Speak at Merrill Lynch Banking &...
Cohen Milstein Investigates Potential ERISA Violations by Merrill Lynch.
Karl Otto Pohl Named Director Emeritus of Gamco Investors, Inc.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters