Eaton Vance Promotes Andrew N. Sveen to Co-Director of Floating-Rate Loan Investments

BOSTON, Feb. 25, 2019 /PRNewswire/ -- Eaton Vance Management (Eaton Vance), a subsidiary of Eaton Vance Corp. (NYSE: EV), announced today that Andrew N. Sveen, CFA, has been named Co-Director of Floating-Rate Loan Investments. Effective March 1, 2019, Mr. Sveen will join Craig P. Russ in leading the floating-rate loan business of Eaton Vance and its affiliates. Mr. Sveen replaces Scott H. Page, CFA, who becomes Senior Advisor to the floating-rate loan group.

Mr. Sveen, a 24-year industry veteran, has deep knowledge of the floating-rate loan market and Eaton Vance's investment strategies, having previously held senior positions at Eaton Vance across floating-rate loan credit research, trading and portfolio management functions. Mr. Sveen has served as Director of Loan Trading & Capital Markets since 2001 and as a portfolio manager since 2007. He joined Eaton Vance as a Senior Credit Analyst in 1999 and previously worked as a corporate lending officer at State Street Bank, beginning in 1995. Mr. Sveen earned a B.A. from Dartmouth College and an MBA from the William E. Simon School at the University of Rochester. Andrew is a member of the Board of Directors of the Loan Syndications & Trading Association.

Mr. Russ has served as Co-Director of Floating-Rate Loan Investments since 2014 and has been a member of the Eaton Vance floating-rate loan group since 1997. Mr. Sveen and Mr. Russ both report to Payson F. Swaffield, CFA, Chief Income Investment Officer.

In his role as Senior Advisor, Mr. Page will remain closely involved in the floating-rate loan group's investment strategy, continuing to serve as a portfolio manager through October 31, 2019. Mr. Page will focus on ensuring a smooth transition of team leadership and will engage in initiatives to further advance Eaton Vance's position as a leading floating-rate loan investment manager for institutions and individuals globally. Mr. Page joined the Eaton Vance floating-rate loan group in 1989, and has led or co-led the group since 1996.

"Scott is one of the true pioneers of floating-rate loan investing, whose visionary leadership has been instrumental to the development of the asset class," said Mr. Swaffield. "I credit him with securing our leadership position in the industry, and look forward to continuing to work with him in his senior advisory role."

Mr. Swaffield continued, "At Eaton Vance, we believe that thoughtful succession planning can assure a seamless continuity of leadership and investment discipline. Andrew has been preparing for years for this opportunity, and I have the utmost confidence that his leadership and investment abilities will serve our clients well in the years ahead."

Effective March 1, 2019, Mr. Sveen will join Mr. Russ and Mr. Page as a portfolio manager of the Eaton Vance floating-rate loan mutual funds and closed-end funds. Mr. Sveen will also join Mr. Russ, Mr. Page and Ralph H. Hinckley, Jr., CFA, as a portfolio manager of the firm's institutional floating-rate loan funds and portfolios.

Eaton Vance Corp. (NYSE: EV) provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance, Parametric, Atlanta Capital, Hexavest and Calvert, 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 clients specified portfolio exposures. As of December 31, 2018, Eaton Vance had consolidated assets under management of $423.1 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.

The information contained herein is provided for informational purposes only and does not constitute a solicitation of an offer to buy or sell Fund shares. Each Fund is subject to numerous risks, including investment risks. No Fund is a complete investment program and an investor may lose money investing in the Fund.

Before investing in a Fund, investors should consider carefully its investment objectives, risks, charges and expenses. This and other important information is contained in the Fund's prospectus and summary prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing.

Mutual Funds distributed by Eaton Vance Distributors, Inc., Two International Place, Boston, MA 02110. Member FINRA/SIPC.

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SOURCE Eaton Vance Management