Alan C. Bowser
About Alan C. Bowser
Alan C. Bowser (born 1962) serves as an independent Trustee of Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW) and the other Eaton Vance closed-end funds; he has been on the closed-end fund Boards since 2023, with his ETW term classified as Class III expiring in 2026 . He is a noninterested (independent) Trustee under the Investment Company Act of 1940 and part of a Board currently composed entirely of noninterested Trustees . Bowser’s core credentials include senior leadership at Bridgewater Associates (Partner, Operating Committee member; Co-Head Americas; Chief Diversity Officer), and prior MD roles at UBS Wealth Management Americas and Citibank Private Bank focused on investment services and client solutions . Education is not disclosed in the proxy .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bridgewater Associates | Partner; Operating Committee member; Co-Head Americas; Chief Diversity Officer | 2011–2023 | Senior operating and regional leadership in asset management |
| UBS Wealth Management Americas | Managing Director, Head of Investment Services | 2007–2010 | Led investment services for UHNW/wealth management clients |
| Citibank Private Bank (Latin America Division) | Managing Director, Head of Client Solutions | 1999–2007 | Client solutions leadership for private banking |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Stout Risius Ross | Independent Director | Since 2021 | Middle market advisory firm; board-level oversight |
| Black Hedge Fund Professionals Network | Founding Board Member; Board Chair | Current | Industry network leadership |
| Robert Toigo Foundation; New York Urban League; University of Pennsylvania; Greater Miami Chamber of Commerce Task Force on Ethics | Board service; Vice Chair (Ethics Task Force) | Various | Non-profit/academic governance roles |
| Recognition | EMPower Ethnic Minority Executive Role Models (Top 100, 2020); Business Insider “Diversity Trailblazers” (2022) | — | Governance and DEI recognition |
Board Governance
- Independence: Noninterested (independent) Trustee under the 1940 Act .
- Term/Classification: ETW Class III Trustee; current term expires in 2026 (Trustee since 2023) .
- Committee Assignments (ETW):
- Governance Committee member (Chairperson: Valerie A. Mosley) .
- Contract Review Committee member (Chairperson: Mark R. Fetting) .
- Portfolio Management Committee member (Chairperson: Marcus L. Smith) .
- Audit Committee: Not listed as a member; Audit Committee is Wennerholm (Chair), Gorman, Quinton, Stefani .
- Board/Committee Activity: In FY ended Dec 31, 2024, Board met 8 times; Audit 10; Contract Review 5; Governance 5; Portfolio Management 7; Compliance Reports & Regulatory Matters 8; Closed‑End Fund Ad Hoc predecessor 10 .
- Attendance: Each Trustee attended at least 75% of Board/Committee meetings where they serve; none of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders (engagement signal) .
- Chairperson of the Board: George J. Gorman (noninterested Trustee) .
- Board scale: Trustees serve across 123 registered investment companies or series in the Eaton Vance fund complex (workload/coverage consideration) .
Fixed Compensation
- Structure: Noninterested Trustees receive cash retainers with committee service components; no pension plan; may elect deferred compensation .
- Fee Schedule (pro rata across funds by average net assets):
- Annual Trustee Retainer: $325,000
- Chairperson of noninterested Trustees: +$150,000
- Committee Service Retainer: +$82,500
- Serving on four or more committees: +$15,000
- Committee Chairperson: +$35,000 (split evenly for co-chairs)
- Out-of-pocket expenses reimbursed
| Compensation (FY Ended 12/31/2024) | ETW (Global Buy-Write Opportunities Fund) | Total from Fund Complex |
|---|---|---|
| Alan C. Bowser | $5,779 | $395,000 |
Notes: Compensation amounts reflect current schedule which may not have been in place for the full fiscal year; aggregate reimbursed expenses for Trustees totaled $96,845 for CY 2024 (fund complex) .
Performance Compensation
| Metric/Provision | Status | Source |
|---|---|---|
| Equity awards (RSUs/PSUs), options | Not applicable to Trustees; not disclosed | |
| Performance metrics (e.g., revenue growth, EBITDA, TSR) tied to Trustee pay | None disclosed for Trustees | |
| Deferred Compensation Plan | Trustees may defer fees; deferred balances track the performance of selected Eaton Vance funds; no pension plan |
Other Directorships & Interlocks
| Company/Entity | Public/Private | Role | Potential Interlock/Conflict |
|---|---|---|---|
| Stout Risius Ross | Not identified as public | Independent Director | No ETW-related transactions disclosed; no conflict noted in proxy |
| Eaton Vance/Morgan Stanley (context) | — | ETW’s adviser (Eaton Vance) is an indirect, wholly owned subsidiary of Morgan Stanley | Adviser affiliation disclosed; Trustees are noninterested; Contract Review Committee oversees service provider conflicts |
Expertise & Qualifications
- 25+ years in financial services; leadership in asset management and private banking serving institutions, family offices, and UHNW clients across U.S. and Latin America .
- Operating Committee and regional leadership roles at Bridgewater Associates; prior MD roles at UBS Wealth Management Americas and Citibank Private Bank .
- External governance experience across industry and non-profit boards; DEI recognition indicating stakeholder engagement and cultural oversight strength .
Equity Ownership
| Category | ETW (Fund-level) | Fund Complex (Aggregate Dollar Range) |
|---|---|---|
| Beneficial Ownership (as of Jan 28, 2025) | None (no Trustee beneficially owned ETW equity securities) | Over $100,000 for Bowser across the Eaton Vance family of funds overseen |
| Ownership as % of ETW Outstanding | 0% (none beneficially owned) | N/A |
| Pledged/Hedged Shares | Not disclosed | Not disclosed |
| Ownership Guidelines | Not disclosed | Not disclosed |
Governance Assessment
- Strengths: Independence; meaningful asset management and client advisory pedigree; membership on Governance, Contract Review (conflicts oversight), and Portfolio Management committees enhances board effectiveness in nominating, service provider oversight, and performance monitoring .
- Engagement: Met the Board’s minimum attendance threshold (≥75%) across Board/Committee meetings; however, none of the Trustees attended the 2024 Annual Meeting, which some shareholders may view as a negative engagement signal .
- Alignment & Incentives: Compensation is cash-based with optional deferral tracking fund performance (some economic alignment via deferred balances), but no performance-linked pay metrics or equity awards are used for Trustees; no pension plan .
- Workload Consideration: Trustees serve across 123 registered investment companies/series, implying significant oversight scope—potential dilution risk balanced by committee structures and meeting cadence .
- Conflicts: Bowser sits on the Contract Review Committee, which explicitly monitors service provider contracts and potential conflicts with Eaton Vance/Morgan Stanley; no Bowser-specific related-party transactions are disclosed in the proxy .
RED FLAGS
- None of the Trustees attended the 2024 Annual Meeting of Shareholders (could be interpreted as lower direct shareholder engagement) .
- No explicit stock ownership guidelines or required holdings disclosed for Trustees (reduced formal ownership alignment framework) .
- Large fund-complex coverage (123 funds) may stretch bandwidth, relying heavily on committee processes and adviser reporting .