Alan Bowser
About Alan C. Bowser
Alan C. Bowser (born 1962) is a noninterested (independent) Trustee of Eaton Vance Floating‑Rate Income Trust (EFT), first appointed to the Eaton Vance closed‑end fund boards in 2023; he is a Class II Trustee with a term expiring in 2027 . He is a private investor with 25+ years in financial services, including roles at Bridgewater Associates (2011‑2023; Chief Diversity Officer, Co‑Head of the Americas, Partner, Operating Committee), UBS Wealth Management Americas (2007‑2010; Managing Director, Head of Investment Services), and Citibank Private Bank (1999‑2007; Managing Director, Head of Client Solutions, Latin America) . As of December 30, 2024, he served across 123 funds within the Eaton Vance fund complex .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bridgewater Associates | Chief Diversity Officer; Co‑Head of the Americas Region; Partner; Operating Committee member | 2011–2023 | Senior leadership across diversity and client coverage; operating governance |
| UBS Wealth Management Americas | Managing Director, Head of Investment Services | 2007–2010 | Led investment services platform |
| Citibank Private Bank (Latin America Division) | Managing Director, Head of Client Solutions | 1999–2007 | Led client solutions for Latin America private banking |
External Roles
| Organization | Role | Tenure/Notes | Type |
|---|---|---|---|
| Stout Risius Ross | Independent Director | Since 2021 | Private professional services advisory firm |
| Black Hedge Fund Professionals Network | Founding Board Member; Board Chair | Not disclosed | Non‑profit/professional network |
| Robert Toigo Foundation | Board member (prior service) | Not disclosed | Non‑profit |
| New York Urban League | Board member (prior service) | Not disclosed | Non‑profit |
| University of Pennsylvania | Served on boards (prior service) | Not disclosed | Academic/non‑profit |
| Greater Miami Chamber of Commerce Task Force on Ethics | Vice Chairman (prior service) | Not disclosed | Civic/non‑profit |
- Recognition: EMPower Ethnic Minority Executive Role Models (Top 100, 2020); Business Insider “Diversity Trailblazers” (2022) .
Board Governance
- Independence and service: Bowser is a noninterested (independent) Trustee; Trustee since 2023; Class II term through 2027 .
- Committee assignments (FY2024 governance structure):
- Contract Review Committee – Member (Chair: Mark R. Fetting) .
- Portfolio Management Committee – Member (Chair: Marcus L. Smith) .
- Governance Committee – Member (Chair: Valerie A. Mosley) .
- Board/Committee engagement (FY ended May 31, 2024):
- Board met 8 times; Audit 10; Contract Review 5; Governance 3; Portfolio Management 7; Compliance 8; Closed‑End Fund 5. Each Trustee attended at least 75% of Board and Committee meetings on which they serve .
- None of the Trustees attended the Fund’s 2024 Annual Meeting of Shareholders .
- Board leadership:
- As of the January 27, 2025 proxy, George J. Gorman served as Chairperson of the Board .
- Subsequent events: On August 9, 2025, Chairperson Mark R. Fetting unexpectedly passed away; Susan J. Sutherland served as acting Chair; on August 27, 2025, Scott E. Wennerholm was appointed Chairperson for a 4‑year term .
Fixed Compensation
Director compensation is cash‑based (annual retainer + committee fees) and allocated pro rata across the Eaton Vance fund complex. Key schedule elements:
| Element | 2023 Schedule (per 2024 proxy) | 2024 Schedule (per 2025 proxy) |
|---|---|---|
| Annual retainer | $315,000 | $325,000 |
| Committee service retainer | $82,500 | $82,500 |
| Additional retainer for serving on ≥4 committees | $15,000 | $15,000 |
| Committee Chair retainer | $35,000 | $35,000 |
| Chairperson of noninterested Trustees | $150,000 | $150,000 |
Bowser’s reported compensation:
| Metric | Calendar 2023 | Calendar 2024 |
|---|---|---|
| Total Compensation from EFT (single fund) | $3,204 | $3,276 |
| Total Compensation from Fund Complex | $374,906 | $395,000 |
Notes: Trustees may elect to defer fees under a Deferred Compensation Plan (invested in EV funds); the Fund has no pension/retirement plan for Trustees .
Performance Compensation
| Performance‑linked element | Status |
|---|---|
| Stock awards (RSUs/PSUs), option awards, performance cash bonus | None disclosed for Trustees; compensation structure is fixed retainers and committee fees |
| Performance metrics tied to director pay (TSR, revenue, ESG, etc.) | None disclosed |
| Deferred compensation election (Alan Bowser) | No deferred amount indicated in 2024 table (deferred amounts only noted for other Trustees) |
| Clawbacks / tax gross‑ups / CoC severance for directors | Not disclosed/applicable |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Bowser |
| Other boards | Independent Director, Stout Risius Ross (since 2021); multiple non‑profit/academic boards (see External Roles) |
| Interlocks with EFT counterparties (adviser, distributor, auditor) | None disclosed; Contract Review Committee (of which Bowser is a member) reviews potential conflicts with service providers |
Expertise & Qualifications
- 25+ years in investment and wealth management across institutional and ultra‑high‑net‑worth client segments; senior operating and client leadership at Bridgewater, UBS, and Citibank Private Bank .
- Governance roles across multiple committees (Contract Review, Portfolio Management, Governance) at EFT .
- Recognized for diversity leadership (EMPower 2020; Business Insider 2022) .
Equity Ownership
| Item | Value |
|---|---|
| EFT shares beneficially owned (as of Dec 30, 2024) | None disclosed for Bowser; only Trustee with >$100,000 in EFT was Keith Quinton |
| Aggregate dollar range owned across Eaton Vance family of funds (Bowser) | Over $100,000 (as of Dec 30, 2024) |
| Shares pledged/hedged | Not disclosed |
Governance Assessment
-
Positives
- Independent director with deep buy‑side/wealth management background and broad fund governance exposure (serving on Contract Review, Portfolio Management, and Governance committees) .
- Board reports strong overall engagement (≥75% meeting attendance for each Trustee in FY2024), with robust committee cadence supporting oversight of conflicts, portfolio process, and board governance .
- Compensation structure is standardized, cash‑based, and not tied to short‑term stock metrics—reducing misalignment risk for a closed‑end fund board .
-
Watch‑items / RED FLAGS
- No personal ownership of EFT shares as of Dec 30, 2024 (alignment optics), though Bowser holds over $100,000 across the Eaton Vance family of funds .
- None of the Trustees attended the Fund’s 2024 Annual Meeting of Shareholders (investor‑relations optics) .
- A late Section 16(a) Form 3 was filed on behalf of Bowser due to an administrative error (minor compliance lapse) .
-
Other observations
- Board leadership transitions in 2025 (passing of Chair and subsequent appointments) do not directly implicate Bowser but warrant general governance monitoring for stability and continuity .