Keith Quinton
About Keith Quinton
Independent Trustee (born 1958) of Eaton Vance Municipal Bond Fund (EIM) since 2018; currently Chairperson of the Closed-End Fund Committee and member of the Audit, Contract Review, Governance, and Compliance Reports & Regulatory Matters Committees. He is a private investor, researcher and lecturer with 30+ years in quantitative investment roles; education includes an AB in Russian (Dartmouth) and an MBA (Tuck, Dartmouth); CFA charterholder during his professional investment career .
Past Roles
| Organization | Role | Tenure/Dates | Committees/Impact |
|---|---|---|---|
| Fidelity Investments | Portfolio Manager & Senior Quantitative Analyst | 2001–2014 | Led quant research and portfolio management; retired in 2014 . |
| MFS Investment Management | Vice President & Quantitative Analyst | 2000–2001 | Quant research support . |
| Santander Global Advisors | Senior Quantitative Analyst | 1997–2000 | Quant equity analytics . |
| Putnam Investments | Senior Vice President, Quantitative Equity Research | 1995–1997 | Led quant equity research department . |
| Eberstadt Fleming; Falconwood Securities; Drexel Burnham Lambert | Quantitative roles (began career as Senior Quant Analyst) | 1983 onward | Early quant analytics foundation . |
External Roles
| Organization | Role | Dates | Notes |
|---|---|---|---|
| New Hampshire Retirement System | Independent Investment Committee Member | 2017–2021 | Five-member committee managing investments under board-approved policy/asset allocation . |
| New Hampshire Municipal Bond Bank | Director; Chairman | Director 2016–2021; Chairman 2019–2021 | Municipal finance oversight; prior leadership role . |
Board Governance
- Committee assignments: Chair, Closed-End Fund Committee; Member, Audit; Contract Review; Governance; Compliance Reports & Regulatory Matters .
- Independence: Classified as “noninterested” Trustee; Audit Committee members independent under NYSE American standards; Board composed entirely of noninterested Trustees .
- Attendance: FY ended Sept 30, 2024—Board met 8x; Audit 10x; Contract Review 5x; Governance 4x; Portfolio Management 7x; Compliance 8x; Ad Hoc Closed-End Fund Matters 9x. Each Trustee attended at least 75% of meetings; none attended the 2024 Annual Meeting .
- Board structure: Nine Trustees, three classes, staggered three-year terms (Quinton is Class I, term expiring 2027) .
| Committee | Role | FY2024 Meetings | Independence |
|---|---|---|---|
| Closed-End Fund Committee | Chairperson | Established after FY2024; predecessor Ad Hoc met 9x | Noninterested . |
| Audit Committee | Member | 10 | Independent under NYSE American . |
| Contract Review Committee | Member | 5 | Noninterested . |
| Governance Committee | Member | 4 | Independent under NYSE American . |
| Compliance Reports & Regulatory Matters | Member | 8 | Noninterested; Qualified Legal Compliance Committee . |
Fixed Compensation
Trustee fees are retainer-based (no meeting fees disclosed), with pro rata allocation to each fund in the complex.
| Component | 2023 Schedule | 2024 Schedule | 2025 Schedule |
|---|---|---|---|
| Annual Retainer (Trustee) | $305,000 | $315,000 | $325,000 |
| Chair of Noninterested Trustees | $150,000 | $150,000 | $150,000 |
| Committee Service | $82,500 | $82,500 | $82,500 |
| 4+ Committees Add’l | $15,000 | $15,000 | $15,000 |
| Committee Chair Add’l | $35,000 | $35,000 | $35,000 |
| Ad Hoc Committee Chair (6-mo periods) | $5,000 | $5,000 | n/a (formalized Closed-End Committee) |
| Year | EIM Fund Compensation (Pro Rata) | Total Compensation from Fund & Fund Complex |
|---|---|---|
| 2022 (calendar) | $8,573 | $391,051 |
| 2023 (calendar) | $8,071 | $407,500 |
| 2024 (calendar) | $7,128 | $420,000 |
Performance Compensation
- Structure: Trustee compensation is fixed via retainers and committee fees; no stock awards or options are listed for Trustees; no performance-based bonuses are disclosed .
- Deferred Compensation: Trustees may elect to defer fees into Eaton Vance funds, with payouts tied to investment performance (alignment via economic exposure) .
| Feature | Status | Detail |
|---|---|---|
| Equity awards (RSUs/PSUs) | Not disclosed; fee-only structure | Proxy lists retainers/committee fees; no equity awards . |
| Options | Not disclosed | No option awards in trustee compensation sections . |
| Performance bonus | Not disclosed | No bonus metrics tied to trustee pay . |
| Deferred comp election | Available | Fees can be invested in EV fund shares; payouts reflect fund performance . |
Other Directorships & Interlocks
| Company/Entity | Role | Dates | Potential Interlock/Notes |
|---|---|---|---|
| New Hampshire Municipal Bond Bank | Director; Chairman | Director 2016–2021; Chairman 2019–2021 | Public-sector municipal finance; prior role (not current) . |
| New Hampshire Retirement System | Independent Investment Committee Member | 2017–2021 | Public pension investment oversight; prior role . |
Expertise & Qualifications
- Quantitative finance leadership across major asset managers (Fidelity, MFS, Putnam), spanning portfolio management and quantitative research—valuable for oversight of investment process and risk .
- Closed-end fund market structure and discount dynamics focus as Chair of Closed-End Fund Committee; committee remit includes secondary market trading, capital structure, distribution policies .
- Audit oversight experience via Audit Committee membership; committee designated financial experts (Gorman/Wennerholm) and independence under NYSE American .
- Education: Dartmouth AB (Russian); Tuck MBA; CFA charterholder during career, underscoring technical and ethical standards .
Equity Ownership
- Fund-level: As of Aug 20, 2025 and May 28, 2024, no Trustee beneficially owned EIM equity securities .
- Complex-level: Aggregate dollar range of equity securities beneficially owned across Eaton Vance family of funds—“Over $100,000” for Quinton (multiple years) .
- Other fund: As of May 2, 2023, Quinton beneficially owned $50,001–$100,000 of Enhanced Equity Income Fund (EOI) equity securities .
| Date (Record) | EIM Holdings | EV Fund Complex Aggregate | Other Fund Holdings |
|---|---|---|---|
| Aug 20, 2025 | None | Over $100,000 | n/a |
| May 28, 2024 | None | Over $100,000 | n/a |
| May 2, 2023 | None (EIM) | Over $100,000 | EOI: $50,001–$100,000 |
Governance Assessment
- Strengths: Long-tenured quant investment background supports rigorous oversight; multi-committee service (Audit, Governance, Contract Review, Compliance) indicates high engagement. Closed-End Fund Committee leadership aligns with fund-shareholder priorities on discounts, distribution, and capital structure .
- Independence: Noninterested Trustee; Audit Committee independence affirmed under NYSE American; Board entirely noninterested Trustees—supports objective oversight .
- Attendance/engagement: Each Trustee attended at least 75% of Board/Committee meetings in FY2024; however, none attended the 2024 Annual Meeting (pattern also noted in 2023, 2022)—could be perceived as lower shareholder-facing engagement, though not uncommon for fund boards .
- Compensation trend: Total compensation rose from $391,051 (2022) to $420,000 (2024), consistent with scheduled retainer increases; pay is fixed cash without performance linkage, which limits direct pay-for-performance alignment but avoids incentive conflicts .
- Alignment: No EIM share ownership; aggregate EV fund complex exposure “Over $100,000” and optional deferred compensation into fund shares provide economic alignment, albeit not EIM-specific .
- Conflicts/related-party: No Quinton-specific related-party transactions or Section 16(a) reporting delinquencies disclosed; 2025 compliance affirmed; 2024 noted a late filing by another Trustee (Bowser), with no transactions reported .
- Shareholder context: Standstill agreement and tender offer framework (20% at ≥98% NAV, with conditional 5% tenders) may signal proactive discount management under the Closed-End Fund Committee’s remit—relevant to Quinton’s chair role .
RED FLAGS: Non-attendance at annual shareholder meetings (2024, 2023, 2022) by all Trustees may be viewed negatively by some investors seeking visible engagement, though fund boards often prioritize scheduled meetings over annual attendance . No EIM-specific ownership may modestly weaken “skin-in-the-game” optics despite complex-level exposure and deferred comp option .