Keith Quinton
About Keith Quinton
Keith Quinton (born 1958) is a noninterested (independent) Trustee of Eaton Vance California Municipal Bond Fund (ticker: EVM) and Eaton Vance New York Municipal Bond Fund, serving since 2018; he is a Class I Trustee with his current term expiring in 2027 . He chairs the Closed-End Fund Committee and serves on the Audit, Contract Review, Compliance Reports & Regulatory Matters, and Governance Committees, bringing 30+ years of investment experience as a former Fidelity portfolio manager and senior quantitative analyst; he holds an A.B. from Dartmouth College and an MBA from the Tuck School at Dartmouth and was a CFA charterholder during his professional investment career .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fidelity Investments | Portfolio Manager and Senior Quantitative Analyst | 2001–2014 | Led quantitative equity analysis and portfolio management; brings rigorous risk and performance oversight skill set |
| MFS Investment Management | Vice President and Quantitative Analyst | 2000–2001 | Quantitative research supporting equity strategies |
| Santander Global Advisors | Senior Quantitative Analyst | 1997–2000 | Quant research; model development |
| Putnam Investments | Senior Vice President, Quantitative Equity Research | 1995–1997 | Led quantitative equity research function |
| Eberstadt Fleming, Falconwood Securities, Drexel Burnham Lambert | Investment/Quantitative roles (incl. Senior Quantitative Analyst) | Began 1983 | Early quant foundation across sell-side/buy-side roles |
| New Hampshire Retirement System | Independent Investment Committee Member | 2017–2021 | Oversaw investments aligned with board policy and asset allocation |
| New Hampshire Municipal Bond Bank | Director; Chairman | Director 2016–2021; Chairman 2019–2021 | Governance and financing oversight for municipal issuances |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| — | — | — | No current public company directorships disclosed for Quinton; primary current occupation listed as private investor, researcher and lecturer . |
Board Governance
- Independence: Quinton is a noninterested Trustee under the 1940 Act (independent); all nine Trustees are noninterested as of July 14, 2025 .
- Committee assignments and roles: Chair, Closed-End Fund Committee; Member, Audit; Contract Review; Compliance Reports & Regulatory Matters; Governance Committees .
- Attendance and engagement: In FY ended Sep 30, 2024, the Board met 8 times; each Trustee attended at least 75% of Board and Committee meetings on which they serve, though none of the Trustees attended the 2024 Annual Meeting of Shareholders .
- Board structure and workload signals: Six standing committees with active cadence (see meeting counts below); Closed-End Fund Committee established after FY 2024 to manage CEF-specific issues; Quinton chairs this key committee amid activist pressure, indicating a central role in secondary market, capital structure, and distribution policy oversight for CEFs .
| Committee (Quinton) | Role | FY 2024 Meetings |
|---|---|---|
| Audit | Member | 10 |
| Contract Review | Member | 5 |
| Governance | Member | 4 |
| Portfolio Management | Not a member | 7 total (context) |
| Compliance Reports & Regulatory Matters | Member | 8 |
| Closed-End Fund (Ad Hoc predecessor) | Chair (Committee established post-FY24) | 9 (predecessor Ad Hoc met 9 times) |
Fixed Compensation
- Program structure (Board policy): Annual retainer $325,000; additional $150,000 for Chairperson of noninterested Trustees; $82,500 Committee Service retainer; $15,000 for serving on four or more Committees; $35,000 for each Committee Chair; plus expense reimbursement. Each Fund pays a pro rata share based on average net assets of the Eaton Vance family of funds .
- Deferred Compensation Plan: Trustees may defer fees into Eaton Vance funds; payouts track selected fund performance; no pension or retirement plan for Trustees .
| Pay Component | Amount | Source/Notes |
|---|---|---|
| Annual retainer | $325,000 | Board compensation schedule |
| Committee Service retainer | $82,500 | Board compensation schedule |
| 4+ Committees additional retainer | $15,000 | Board compensation schedule |
| Committee Chair retainer (per committee) | $35,000 | Split if co-chairs |
| Chair of noninterested Trustees (Board Chair) | $150,000 | Not Quinton (acting Chair noted separately) |
| Expense reimbursement (aggregate) | $96,845 (calendar 2024, all Trustees) | Aggregate data |
| Fund | FY2024 Fees from Fund | Notes |
|---|---|---|
| Eaton Vance California Municipal Bond Fund (EVM) | $2,185 | Quinton’s FY2024 Fund-specific fees |
| Eaton Vance New York Municipal Bond Fund (ENX) | $1,766 | Quinton’s FY2024 Fund-specific fees |
| Scope | Calendar 2024 Total |
|---|---|
| Total Compensation from Fund Complex (all Eaton Vance funds) | $420,000 |
Performance Compensation
- No performance-based compensation, stock awards, or options are described for Trustees; program consists of cash retainers and committee-related fees with optional fee deferral into funds. No performance metrics (TSR, revenue, EPS, ESG) disclosed for director pay .
| Performance Metric/Instrument | Status |
|---|---|
| Stock awards (RSUs/PSUs) | Not disclosed; none described in program |
| Option awards | Not disclosed; none described in program |
| Cash bonus tied to KPIs | Not disclosed; program is retainer/fee-based |
| Pay-at-risk metrics (TSR, EPS, ESG) | Not disclosed |
| Clawback/COC provisions (directors) | Not disclosed |
Other Directorships & Interlocks
| Company/Organization | Type | Role | Tenure | Committee Roles/Notes |
|---|---|---|---|---|
| New Hampshire Municipal Bond Bank | Public/municipal issuer | Director; Chairman | Director 2016–2021; Chairman 2019–2021 | Municipal finance governance; not a public company board |
| New Hampshire Retirement System | Public pension | Independent Investment Committee Member | 2017–2021 | Oversight of investment policy execution |
| Current public company boards | — | — | — | None disclosed |
Expertise & Qualifications
- Quantitative investment and portfolio management expertise from senior roles at Fidelity, MFS, Putnam, Santander; enhances risk oversight and performance evaluation rigor for fixed-income CEFs .
- Municipal finance governance experience via NH Municipal Bond Bank leadership aligns with EVM’s municipal bond mandate .
- Academic credentials: A.B. Dartmouth; MBA Tuck School, Dartmouth; prior CFA charterholder; supports audit and valuation oversight .
- Governance leadership as Chair of the Closed-End Fund Committee during a period of activist engagement, focusing on secondary market trading, capital structure, and distributions .
Equity Ownership
- EVM/ENX fund-level ownership: As of July 14, 2025, no Trustee beneficially owned either Fund’s equity securities (i.e., Quinton held no EVM or ENX shares directly) .
- Eaton Vance family of funds (aggregate): Quinton’s aggregate beneficial ownership across funds overseen is “Over $100,000” (may include deferred compensation holdings) .
- Pledging/hedging: No pledging or hedging disclosures for Trustees; not discussed .
- Ownership guidelines: Not disclosed for Trustees in the proxy; optional Deferred Compensation Plan exists .
| Holder | EVM Shares Beneficially Owned | ENX Shares Beneficially Owned | Aggregate EV Funds Ownership (Range) |
|---|---|---|---|
| Keith Quinton | 0 | 0 | Over $100,000 (aggregate across EV funds) |
Governance Assessment
- Strengths: Independent director with deep quantitative investment background; multi-committee engagement including Audit and Contract Review; chairs the Closed-End Fund Committee—central to managing CEF-specific governance (trading, capital structure, distributions) amid activist dynamics; attended ≥75% of meetings in FY2024, signaling baseline engagement .
- Alignment concerns: No direct ownership of EVM/ENX shares could be viewed as limited fund-level skin-in-the-game, though Trustees can defer fees into EV funds and Quinton shows “Over $100,000” aggregate EV fund exposure; absence of explicit ownership guidelines for Trustees is noted .
- Process and risk oversight: Active committee cadence; established Closed-End Fund Committee post-FY2024; Audit Committee structure and pre-approval policies in place; CCO reporting and valuation oversight processes documented—supports board effectiveness .
- Activism context: Board considered activist proposals (including termination of advisory agreement) and pursued liquidation to deliver NAV and reduce contest costs; Quinton’s committee chair role is particularly relevant to overseeing these transitions and CEF market mechanics .
- RED FLAGS: None of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders (optics/engagement risk); Trustees and officers collectively held <1% and Quinton held no EVM/ENX shares (alignment optics) .
Overall, Quinton’s quantitative and municipal finance expertise and leadership of the Closed-End Fund Committee are positives for governance during activist-driven structural change; investors should weigh the lack of direct EVM/ENX share ownership and Annual Meeting non-attendance against the documented committee workload and oversight processes .