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 6th. 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 Boston College.
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, visit www.eatonvance.com.
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