David C. McCabe Named President of Eaton Vance Investment Counsel

BOSTON, Nov. 1, 2011 /PRNewswire/ -- Eaton Vance Corp. (NYSE: EV) announced today that David C. McCabe has succeeded G. West "Westy" Saltonstall as president of Eaton Vance Investment Counsel (EVIC) under a leadership transition plan first disclosed in April. Mr. Saltonstall remains with EVIC as president emeritus. A division of Eaton Vance Management, EVIC provides investment counsel services and custom wealth management solutions to high-net-worth individuals and families, trusts, charitable organizations and institutions.  As of September 30, 2011, EVIC's 20 investment counselors managed $3.9 billion of client assets.

Mr. McCabe joined EVIC as an investment counselor in December 2005 upon its acquisition of Voyageur Asset Management, Inc., a Boston-based investment counsel firm for which he served as president. Mr. McCabe previously managed client portfolios at Cowen & Company. He is a graduate of Harvard College.

"As we execute this leadership transition, Eaton Vance Investment Counsel continues to be well positioned for success in the wealth management market," said Thomas E. Faust Jr., chairman and chief executive officer of Eaton Vance Corp. "The foundation for that success, as always, is serving clients with distinction."

Mr. McCabe remarked, "I am delighted to lead EVIC's team of highly regarded investment counselors as we strive to meet the needs of our clients.  We are gaining traction with our family office services offering through the successful recent integration of Pelican Investment Management, and I look forward to building on our recent successes."

Eaton Vance is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $177.8 billion in assets as of September 30, 2011, offering individuals and institutions a broad array of investment strategies and wealth management solutions. The Company's long record of providing exemplary service 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.

SOURCE Eaton Vance Corp.

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