Eaton Vance announced yesterday 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 totalled $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 honours 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 charter holder 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.
