Kenneth Topping
About Kenneth A. Topping
Kenneth A. Topping (born 1966) serves as President of Eaton Vance California Municipal Bond Fund (EVM) and Eaton Vance New York Municipal Bond Fund (ENX), having been appointed an officer in 2023; fund officers hold indefinite terms of office and list One Post Office Square, Boston, MA 02109 as business address . He is Vice President and Chief Administrative Officer of Eaton Vance and Boston Management and Research (BMR), Chief Operating Officer for Public Markets at Morgan Stanley Investment Management (MSIM), and Vice President of Calvert Research and Management (CRM) since 2021; previously, he was Chief Operating Officer for Goldman Sachs Asset Management “Classic” from 2009–2020 . As an officer affiliated with Eaton Vance and due to ownership of Morgan Stanley stock, his compensation economically benefits from advisory and/or administration fees paid by each Fund to Eaton Vance . He has signed shareholder communications and regulatory filings in his capacity as President, including the 2025 proxy soliciting liquidation approval and the 2025 Form N-PX annual report .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eaton Vance & Boston Management and Research (BMR) | Vice President and Chief Administrative Officer | Not disclosed | Senior administrative leadership across adviser affiliates |
| MSIM (Morgan Stanley Investment Management) | Chief Operating Officer for Public Markets | Not disclosed | Operations leadership for public markets platform |
| Calvert Research and Management (CRM) | Vice President | Since 2021 | Executive role at affiliated manager |
| Goldman Sachs Asset Management “Classic” | Chief Operating Officer | 2009–2020 | COO oversight of GSAM Classic business |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| None disclosed in EVM filings for Topping | — | — | Officer biographies list affiliated roles but no public company directorships are disclosed |
Fixed Compensation
- Fund filings do not itemize officer compensation; officers affiliated with Eaton Vance benefit economically from advisory/administration fees paid by the Funds and via ownership of Morgan Stanley stock, but specific salary/bonus/equity details for Topping are not disclosed in EVM’s proxy materials .
Performance Compensation
- No disclosure of performance-based compensation metrics, targets, or payouts for fund officers (including Topping) appears in EVM’s proxy materials; trustees’ fee schedules are disclosed separately, but officer incentive structures are not detailed .
Equity Ownership & Alignment
- Filings state fund officers will benefit from fees paid by each Fund to Eaton Vance and from their ownership of Morgan Stanley stock; however, beneficial ownership in EVM by officers is not presented, while trustee share ownership across the Eaton Vance family is disclosed separately .
- No disclosure of pledged shares, hedging, or ownership guideline compliance is provided for Topping in EVM filings .
Employment Terms
| Item | Disclosure |
|---|---|
| Position | President of EVM and ENX |
| Officer since | 2023 |
| Term | Indefinite term of office |
| Business address | One Post Office Square, Boston, MA 02109 |
| Recent filing signature | Signed 2025 DEF 14A shareholder communication as President ; signed Form N-PX as “President - Chief Executive Officer” dated 08/11/2025 |
| Severance / Change-of-Control | Not disclosed in EVM proxy/filings reviewed |
| Non-compete / Non-solicit / Garden leave | Not disclosed in EVM proxy/filings reviewed |
Performance & Track Record
- In 2025, Topping authored and signed shareholder communications and the preliminary/definitive proxy regarding proposals to liquidate and terminate the Funds, with Annual Meetings scheduled for September 23, 2025; this reflects an operational and governance role in strategic fund actions under Board oversight .
- EVM filings reviewed do not provide TSR, revenue, or EBITDA performance metrics tied to Topping’s compensation or evaluation framework; those details are not presented for fund officers .
Related Governance and Context
- Officers are employees of Eaton Vance/MSIM affiliates and “may hold a position with other Eaton Vance affiliates that is comparable,” reinforcing centralized management across the broader complex; officer counts indicate significant cross-fund responsibilities (e.g., “Officer of 105 registered investment companies managed by Eaton Vance or BMR”) .
- Trustee remuneration is disclosed (retainer and committee fees), but this pertains to noninterested Trustees, not officers like Topping .
Investment Implications
- Absence of itemized officer compensation and performance metrics for Topping limits pay-for-performance analysis at the fund level; economic alignment is indirect through Eaton Vance/MSIM and Morgan Stanley stock ownership rather than EVM-specific metrics .
- Indefinite officer terms and cross-complex responsibilities suggest retention and compensation decisions reside within the parent/adviser organizations rather than the fund board; no severance or change-of-control terms for Topping are disclosed in fund filings reviewed .
- 2025 liquidation proposals and Topping’s role in proxy communications indicate near-term operational priorities are process execution under Board direction, not incentive-linked fund performance metrics; this reduces the utility of insider-based trading signals tied to personal vesting or selling pressure for EVM .