Eaton Vance Management Announces Retirement of Thomas M. Metzold, CFA, Municipal Bond Portfolio Manager and Senior Portfolio Advisor
BOSTON, June 17, 2015 /PRNewswire/ -- Eaton Vance Management (Eaton Vance), a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today that Thomas M. Metzold, CFA, Senior Portfolio Manager and Senior Portfolio Advisor, will retire from Eaton Vance on July 31, 2015.
Mr. Metzold joined Eaton Vance in 1987 as a high-yield municipal bond analyst covering health care and hospital sectors and became a portfolio manager in 1991. In addition to lead managing and co-managing a number of Eaton Vance municipal income mutual funds and closed-end funds for many years, he served as Co-Director of Municipal Investments from 2010 to 2014.
"Tom has been instrumental in building and strengthening Eaton Vance's leadership role in the municipal bond market," said Payson F. Swaffield, Chief Income Investment Officer for Eaton Vance. "He has been a strong and consistent voice in the industry highlighting the benefits of municipal bonds, specifically, their ability to provide investors with tax-exempt income, diversification and relative credit stability, while at the same time providing states and diverse municipalities with cost effective financing."
Mr. Metzold plans to join a municipal bond insurance company following his retirement from Eaton Vance.
Effective July 31, 2015, Mr. Metzold's portfolio management responsibilities will be transitioned to other Eaton Vance municipal portfolio managers as follows:
| Fund |
New Manager |
| Open-end Funds |
|
| Eaton Vance National Municipal Income Fund (co-managed with Craig R. Brandon) |
Craig R. Brandon will become sole manager |
| Eaton Vance High Yield Municipal Income Fund (co-managed with Cynthia Clemson) |
Cynthia J. Clemson will become sole manager |
| Closed-end Funds |
|
| Eaton Vance Municipal Income Trust (NYSE MKT: EVN) |
Cynthia J. Clemson |
| Eaton Vance Municipal Income Term Trust (NYSE MKT: ETX) |
Craig R. Brandon |
| Eaton Vance Michigan Municipal Bond Fund (NYSE MKT: MIW) |
Cynthia J. Clemson |
| Eaton Vance Michigan Income Trust (NYSE MKT: EMI) |
Cynthia J. Clemson |
| Eaton Vance Ohio Municipal Bond Fund (NYSE MKT: EIO) |
Cynthia J. Clemson |
| Eaton Vance Ohio Municipal Income Trust (NYSE MKT: EVO) |
Cynthia J. Clemson |
"We have thoroughly enjoyed working closely with Tom for almost three decades," said Cynthia J. Clemson and Craig R. Brandon, Co-Directors of Municipal Investments for Eaton Vance. "He will leave a lasting impression on the team and we wish him well."
Eaton Vance Corp. is one of the oldest investment management firms in the United States with a history dating to 1924. Eaton Vance and its affiliates managed $311.0 billion in assets as of April 30, 2015, 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, visit eatonvance.com.
SOURCE Eaton Vance Management
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