Eaton Vance has announced the appointment of Eric Stein as chief investment officer (CIO), fixed income, of Eaton Vance Management (EVM), effective 1 November, 2020.
He would replace Payson Swaffield who had announced his plans for retirement.
In his new role, Stein would 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.
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.
“I am pleased to announce Eric’s promotion to chief investment officer, fixed income,” chair and chief executive officer of Eaton Vance, Thomas Faust, to whom Stein would report, said.
“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.”
Following Stein’s promotion, who has served as co-director of global income investments with Michael A. Cirami, since 2012, Cirami would become sole director of global income investments, in which capacity he will continue to lead EVM’s global income group, reporting to Stein, the firm said.