Laura T. Donovan
About Laura T. Donovan
Laura T. Donovan (born 1976) serves as Chief Compliance Officer of Eaton Vance Municipal Bond Fund (EIM) and is a Vice President of Eaton Vance Management and Boston Management and Research (BMR). She was first appointed as an officer in the Eaton Vance fund complex in 2024 and, as of 2025, is listed as an officer of 122 registered investment companies, reflecting broad compliance oversight across the complex; in 2024 she was listed as an officer of 127 registered investment companies . Because of her positions with Eaton Vance and BMR and her ownership of Morgan Stanley stock (Eaton Vance is an indirect, wholly owned subsidiary of Morgan Stanley), she benefits indirectly from advisory and administration fees paid by the Fund to Eaton Vance .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eaton Vance Management / Boston Management and Research (BMR) | Vice President | Past five years (as disclosed) | Senior compliance leadership at adviser; oversight across registered investment companies |
| Eaton Vance Fund Complex | Officer of registered investment companies | 2024 | Officer of 127 registered investment companies; broad platform responsibility |
| Eaton Vance Fund Complex | Officer of registered investment companies | 2025 | Officer of 122 registered investment companies; continuing complex-wide remit |
External Roles
Not disclosed in EIM’s proxy statements for 2023–2025 .
Fixed Compensation
| Component | FY 2023 | FY 2024 | FY 2025 | Notes |
|---|---|---|---|---|
| Base salary | Not disclosed | Not disclosed | Not disclosed | Fund proxies disclose Trustee fees, but not officer compensation; officers are employees of Eaton Vance |
| Target bonus % | Not disclosed | Not disclosed | Not disclosed | No officer bonus disclosure in fund proxies |
| Actual bonus paid | Not disclosed | Not disclosed | Not disclosed | No officer payout disclosure |
Officers of the Fund hold indefinite terms of office and, due to their positions with Eaton Vance and Morgan Stanley stock ownership, benefit indirectly from advisory/admin fees; compensation details are not provided in Fund proxies .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not disclosed | — | — | — | — | — |
Fund proxies do not disclose performance-linked metrics, targets, or vesting for officers; such details (RSUs/PSUs/options) are not presented for Fund officers .
Equity Ownership & Alignment
| Item | Disclosure |
|---|---|
| Beneficial ownership (officers) | Not disclosed in EIM proxies; Section 16(a) reporting indicates officers complied with filings (no delinquencies) |
| Shares pledged as collateral | Not disclosed for officers |
| Stock ownership guidelines | Not disclosed for officers; Trustees’ share ownership ranges disclosed separately (not applicable to Donovan) |
| Alignment considerations | Officers benefit indirectly from Fund advisory/admin fees via Eaton Vance affiliation and Morgan Stanley stock ownership |
As of August 20, 2025, no Trustee beneficially owned EIM equity; Trustee aggregate ranges across the broader family of funds are disclosed, but this does not cover officers .
Employment Terms
| Term Aspect | Disclosure |
|---|---|
| Officer since | 2024 (Chief Compliance Officer appointment) |
| Term length | Indefinite term of office for Fund officers |
| Employer | Eaton Vance Management and BMR (indirect, wholly owned subsidiary of Morgan Stanley) |
| Non-compete / non-solicit | Not disclosed in Fund proxies |
| Severance / change-of-control | Not disclosed in Fund proxies |
| Clawbacks / tax gross-ups | Not disclosed in Fund proxies |
Performance & Track Record
- CCO responsibilities include oversight of compliance programs and reporting to the Board; the Board’s committees regularly review compliance, valuation, and risk management matters with the CCO and service providers .
- Section 16(a) compliance: Trustees and officers complied with required ownership filings; no delinquencies noted for the most recent fiscal year in 2025 .
Investment Implications
- Compensation alignment: Officer cash/equity compensation details are not disclosed at the Fund level, limiting pay-for-performance analysis. Her indirect alignment is tied to Eaton Vance/Morgan Stanley through advisory/admin fees and MS stock ownership, which may favor firm-wide fee stability over Fund-specific TSR metrics .
- Retention risk: Officers serve indefinite terms and are part of a large complex (122–127 registered investment companies), suggesting institutional continuity; absence of severance/change-of-control disclosures at the Fund level limits assessment of personal retention economics .
- Trading signals: With no officer-specific ownership, pledging, or insider selling disclosures at the Fund level, there are no direct insider supply signals related to Donovan; Section 16 compliance shows no reporting issues . Shareholder activism context (e.g., Karpus Management’s significant holdings and standstill-driven tender framework) affects Fund capital actions and discount management, but is not specific to Donovan’s personal incentives .