Keith Quinton
About Keith Quinton
Keith Quinton (born 1958) is an independent Trustee of Eaton Vance Municipal Income Trust (EVN), serving since 2018 and currently Chairperson of the Closed‑End Fund Committee; he is also a member of the Audit, Compliance Reports & Regulatory Matters, Governance, and Contract Review Committees . He has 30+ years in investment management, including roles as Portfolio Manager and Senior Quantitative Analyst at Fidelity (2001‑2014), and quantitative analyst positions at MFS (2000‑2001), Santander Global Advisors (1997‑2000), and Putnam Investments (1995‑1997), with earlier investment roles at Eberstadt Fleming, Falconwood Securities, and Drexel Burnham Lambert starting in 1983 . He also served as an Independent Investment Committee Member of the New Hampshire Retirement System (2017‑2021) and as Director (2016‑2021) and Chairman (2019‑2021) of the New Hampshire Municipal Bond Bank .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Fidelity Investments | Portfolio Manager & Senior Quantitative Analyst | 2001–2014 | Led quantitative research and portfolio management initiatives |
| MFS Investment Management | Vice President & Quantitative Analyst | 2000–2001 | Quant research supporting investment strategies |
| Santander Global Advisors | Senior Quantitative Analyst | 1997–2000 | Quantitative modeling and analytics |
| Putnam Investments | Senior Vice President, Quantitative Equity Research | 1995–1997 | Led quant equity research function |
| Eberstadt Fleming; Falconwood Securities; Drexel Burnham Lambert | Various investment roles; Senior Quantitative Analyst (start) | Began 1983 (years not individually specified) | Early-career quantitative research in capital markets |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| New Hampshire Retirement System | Independent Investment Committee Member | 2017–2021 | 5‑member committee overseeing investments per board policy and asset allocation |
| New Hampshire Municipal Bond Bank | Director; Chairman | Director 2016–2021; Chairman 2019–2021 | Governance and oversight of municipal bond issuance support |
Board Governance
- Independence: EVN’s committees are composed solely of noninterested (independent) Trustees; Governance and Audit Committee members are independent under NYSE/NYSE American standards .
- Committee leadership and service: Quinton chairs the Closed‑End Fund Committee; he serves on Audit, Compliance Reports & Regulatory Matters, Governance, and Contract Review Committees .
- Financial expert designation: The board designated Gorman and Wennerholm as “audit committee financial experts”; Quinton is not identified as such .
- Attendance and engagement: In FY ended Nov 30, 2024, the Board met 8 times; Audit (9), Contract Review (5), Governance (5), Portfolio Management (7), Compliance Reports & Regulatory Matters (8), Closed‑End Fund (10). Each Trustee attended at least 75% of Board/Committee meetings on which they serve; none attended the 2024 Annual Meeting of Shareholders .
| Committee | Quinton Role | Independent Composition | FY2024 Meetings |
|---|---|---|---|
| Closed‑End Fund Committee | Chairperson | All members noninterested | 10 |
| Audit Committee | Member | Independent; Gorman & Wennerholm designated financial experts | 9 |
| Compliance Reports & Regulatory Matters | Member | All members noninterested | 8 |
| Governance Committee | Member | All members independent under listing standards | 5 |
| Contract Review Committee | Member | All members noninterested | 5 |
Fixed Compensation
EVN discloses a standardized trustee fee schedule paid pro rata by each fund in the Eaton Vance complex (based on average net assets). Quinton’s EVN‑specific and complex‑wide amounts are below.
| Compensation Element | Amount (USD) | Applies to Quinton? | Basis |
|---|---|---|---|
| Annual retainer (noninterested Trustees) | $325,000 | Yes | Complex‑wide schedule; paid pro rata by each fund |
| Additional retainer – Chairperson of noninterested Trustees | $150,000 | No (Quinton is not Board Chair) | Complex‑wide schedule |
| Committee service retainer | $82,500 | Yes | Complex‑wide schedule |
| Additional retainer – service on 4+ Committees | $15,000 | Yes (Quinton serves on ≥4) | Complex‑wide schedule |
| Committee Chair retainer | $35,000 | Yes (Closed‑End Fund Committee Chair) | Complex‑wide schedule |
| EVN (Municipal Fund) pro rata compensation, calendar 2024 | $3,772 | Yes | EVN fund share of complex fees to Quinton |
| Total compensation from fund complex, calendar 2024 | $420,000 | Yes | Aggregate across the Eaton Vance fund complex |
| Out‑of‑pocket expenses | Reimbursed | Yes | Standard reimbursement; aggregate $96,845 for Trustees in 2024 (complex) |
Deferred Compensation Plan:
- Eligible Trustees may defer fees; deferrals can be notionally invested in Eaton Vance funds; payouts reflect investment performance. No pension or retirement plan for Trustees is offered .
| Deferred Compensation Feature | Detail |
|---|---|
| Election to defer | Allowed for all/percentage of annual fees |
| Investment choice | Deferrals invested in shares of one or more Eaton Vance funds |
| Payout basis | Determined by performance of selected investments |
| Pension/retirement plan | None for Trustees |
Performance Compensation
- No equity grants (RSUs/PSUs), options, performance‑metric bonuses, severance or change‑of‑control provisions are disclosed for Trustees; compensation is via fixed retainers and committee fees, with optional fee deferral into fund shares .
Other Directorships & Interlocks
- Current public company directorships: None disclosed for Quinton in the last five years; disclosed external roles are NHRS Investment Committee and New Hampshire Municipal Bond Bank (a public finance entity), not listed companies .
| Company/Entity | Role | Years | Potential Interlock/Conflict |
|---|---|---|---|
| New Hampshire Municipal Bond Bank | Director; Chairman | Director 2016–2021; Chairman 2019–2021 | No EVN supplier/customer linkage disclosed |
| New Hampshire Retirement System | Independent Investment Committee Member | 2017–2021 | Public pension oversight; no EVN linkage disclosed |
Expertise & Qualifications
- Quinton brings deep quantitative finance and portfolio management expertise across leading asset managers, matched to EVN’s oversight needs for closed‑end fund strategies and risk management .
- Committee leadership on closed‑end fund matters signals subject‑matter strength in vehicle structure, capital market actions, and shareholder alignment .
Equity Ownership
- EVN fund shares held: None (as of Dec 30, 2024, only Ms. Frost held EVN shares; “No other Trustee held shares of each Fund”) .
- Aggregate holdings across the Eaton Vance family of funds overseen by Trustees: Quinton—Over $100,000 (dollar range) .
- Pledging/hedging: Not disclosed in proxy; no pledging or hedging by Quinton is noted .
| Ownership Item | Quinton Status |
|---|---|
| EVN shares beneficially owned (as of 12/30/2024) | None |
| Aggregate EV family of funds holdings | Over $100,000 |
| Shares pledged as collateral | Not disclosed |
| Director ownership guidelines | Not disclosed for Trustees |
Governance Assessment
- Strengths: Long tenured investment professional with quantitative skillset; chairs Closed‑End Fund Committee; serves across key oversight committees (Audit, Compliance, Governance, Contract Review), enhancing board effectiveness and conflict monitoring .
- Independence: Noninterested Trustee; committees are independent; Audit Committee financial experts designated among peers, with Quinton participating on an independent audit body .
- Engagement: Attendance threshold met (≥75% of meetings in FY2024), though the board collectively did not attend the 2024 Annual Meeting—neutral to mildly negative for shareholder engagement norms in operating companies but common in ’40 Act fund complexes .
- Alignment: No direct EVN share ownership may be viewed as a modest alignment gap; the deferred compensation mechanism and significant aggregate holdings across the EV family of funds partially mitigate alignment concerns .
- Conflicts/Red Flags: No related‑party transactions, loans, or consultant conflicts disclosed; Quinton’s role on the Contract Review Committee explicitly targets service‑provider conflicts (including adviser/affiliates), a structural mitigant .
- Compensation structure: Predominantly fixed cash retainers with committee premia and chair fees; absence of equity/option grants reduces misaligned risk‑taking but may limit direct EVN exposure; EVN pro‑rata fee to Quinton was $3,772 in 2024 with $420,000 total complex compensation .