Eaton Vance Announces Upcoming Retirement of Payson F. Swaffield

BOSTON, April 30, 2020 /PRNewswire/ -- Eaton Vance Corp. (NYSE: EV) today reported that Payson F. Swaffield, CFA, Vice President and Chief Income Investment Officer (CIIO) of Eaton Vance Management (EVM), has announced his intention to retire at the Company's fiscal year-end on October 31, 2020. A search for Mr. Swaffield's successor is now underway, with both internal and external candidates being considered.

Mr. Swaffield, 63, joined EVM in 1990 as a research analyst in the floating-rate loan investment group. In 1996, he was promoted to portfolio manager and named co-director of floating-rate loan investments, a position he held for eleven years. Upon his appointment as CIIO in 2007, Mr. Swaffield assumed leadership of all EVM income investment groups. As CIIO, Mr. Swaffield is responsible for overseeing strategies investing across the income markets, including floating-rate loans, high-yield bonds, municipal bonds, emerging market debt, mortgage-backed and asset-backed securities, and multi-asset income solutions for individual and institutional clients. In 2016, Mr. Swaffield added responsibility for overseeing the income investment strategies of Calvert Research and Management (Calvert) upon Eaton Vance's acquisition of the business assets of Calvert's predecessor company. As of March 31, 2020, assets under management in EVM and Calvert income strategies totaled $79.3 billion.

"Over his 30-year career, Payson has distinguished himself as a diligent and astute investor, an able manager of investment professionals and major contributor to the growth and success of Eaton Vance," said Thomas E. Faust Jr., Chairman and Chief Executive Officer. "His greatest legacy is the highly capable income investment teams developed and sustained under his leadership."

Mr. Swaffield is a portfolio manager of two multisector closed-end funds, Eaton Vance Limited Duration Income Fund (NYSEAmerican: EVV) and Eaton Vance Short Duration Diversified Income Fund (NYSE: EVG), in which role he will continue to serve until his retirement.

Before joining Eaton Vance, Mr. Swaffield held positions with Conning & Company, State Street, Duff & Phelps and Northern Trust. He holds a B.A. from Middlebury College and an M.B.A. from the University of Chicago Booth School of Business. Mr. Swaffield served on the board of the Loan Syndications and Trading Association from 2001 to 2008 and is a trustee of the Museum of Science in Boston.

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 March 31, 2020, Eaton Vance had consolidated assets under management of $436.8 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.

SOURCE Eaton Vance Corp.

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