James F. Kirchner
About James F. Kirchner
James F. Kirchner (born 1967) serves as Treasurer and Principal Financial Officer of Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG). He has been an officer of the Fund since 2007 and is a Vice President of Eaton Vance and Boston Management and Research (BMR), and also a Vice President of Calvert Research and Management (CRM) since 2016, reflecting broad responsibilities across the Eaton Vance/Morgan Stanley fund complex; he certifies the Fund’s financial reporting under Sarbanes–Oxley Sections 302 and 906, underscoring his role over disclosure controls and internal control over financial reporting . Fund performance context for his tenure: as of April 30, 2025, EXG’s average annual total return at NAV is 8.04% over 10 years and 12.68% over 5 years; market returns were 7.74% (10Y) and 13.09% (5Y), with shares trading at a 7.55% discount to NAV and a distribution rate of 9.02% at NAV as of period end .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) | Treasurer; Principal Financial Officer | Officer since 2007 | SOX 302/906 certifications of financial reporting; responsibility for disclosure controls and internal control over financial reporting |
| Eaton Vance; Boston Management and Research (BMR) | Vice President | Past five years (ongoing) | Officer across 123 registered investment companies; fund complex finance oversight |
| Eaton Vance Funds (complex-wide) | Officer across multiple registered investment companies | Indefinite terms; continuous service | Officers hold indefinite terms of office; broad multi-fund responsibilities |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Calvert Research and Management (CRM) | Vice President | Since 2016 | Officer across 45 registered investment companies; affiliate alignment under Morgan Stanley |
Fixed Compensation
- Officer compensation for services to EXG is not disclosed in proxy materials; officers who are members of Eaton Vance’s organization receive remuneration for services to the Fund out of the adviser’s fee (paid to Eaton Vance Management), rather than directly by the Fund .
Adviser fee schedule (economic context):
| Average Daily Gross Assets | Annual Fee Rate |
|---|---|
| Up to and including $1.5 billion | 1.000% |
| Over $1.5 billion up to and including $3 billion | 0.980% |
| Over $3 billion up to and including $5 billion | 0.960% |
| Over $5 billion | 0.940% |
| Actual adviser fee (six months ended April 30, 2025) | $13,691,474; 0.99% annualized of average daily gross assets |
Performance Compensation
- No performance-based compensation disclosure (e.g., bonus targets, RSUs/PSUs, options) for Fund officers is provided in EXG’s proxy or shareholder reports; compensation metrics tied to revenue/EBITDA/TSR are not stated at the Fund level for officers .
Equity Ownership & Alignment
- Officer-specific beneficial ownership, vesting, or pledging disclosures are not provided in EXG’s proxy; Trustee beneficial ownership is disclosed at a high level (e.g., Keith Quinton >$100,000 in EXG; others none in the Fund), and aggregate ranges “Over $100,000” across the complex; no officer pledging is disclosed in Fund documents .
- Section 16(a) compliance disclosure indicates trustees and officers complied with required filings for the most recent fiscal year end, with two late Form 3s by other individuals; no transactions were reported on these forms, and no issues are attributed to James F. Kirchner .
Employment Terms
| Item | Detail |
|---|---|
| Business Address | One Post Office Square, Boston, Massachusetts 02109 |
| Officer Title | Treasurer (EXG); Principal Financial Officer (per N-CSR certifications) |
| Officer Since | 2007 (indefinite term of office) |
| Term | Officers hold indefinite terms of office |
| Severance; Change-of-Control | Not disclosed in Fund proxy/shareholder reports |
| Non-compete; Non-solicit; Garden leave | Not disclosed in Fund proxy/shareholder reports |
Performance & Track Record
Average annual total returns and trading context (as of April 30, 2025):
| Metric | Ten Years | Five Years | One Year | Six Months |
|---|---|---|---|---|
| Fund at NAV (%) | 8.04 | 12.68 | 6.20 | (0.41) |
| Fund at Market Price (%) | 7.74 | 13.09 | 10.94 | 2.18 |
| MSCI World Index (%) | 9.33 | 13.94 | 12.16 | 0.93 |
| Cboe S&P 500 BuyWrite Index (%) | 6.10 | 10.31 | 9.50 | 1.35 |
| Premium/Discount to NAV (%) | (7.55) as of period end | |||
| Distribution Rate | 9.02% at NAV; 9.76% at Market Price |
Selected financial highlights (context for asset base and expenses):
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | Six Months Ended Apr 30, 2025 |
|---|---|---|---|---|---|---|
| Net Assets (000s) | $2,449,271 | $3,154,487 | $2,393,126 | $2,450,318 | $2,814,196 | $2,673,059 |
| Total Expense Ratio (%) | 1.08 | 1.07 | 1.08 | 1.07 | 1.07 | 1.08 (annualized) |
| Net Investment Income Ratio (%) | 0.57 | 0.47 | 0.74 | 1.21 | 0.81 | 0.55 (annualized) |
| Total Investment Return on NAV (%) | 2.35 | 38.57 | (17.25) | 11.57 | 25.78 | (0.41) (not annualized) |
Additional officer responsibilities evidenced by certifications:
- SOX 906 certification attesting fair presentation and compliance for the April 30, 2025 N-CSR; signed June 24, 2025 .
- SOX 302 certification covering disclosure controls and internal control over financial reporting for the same period .
Board Governance (Officer Interface)
- Officers are appointed with indefinite terms and, due to their positions within Eaton Vance and ownership of Morgan Stanley stock, they benefit from advisory/administration fees paid by the Fund to Eaton Vance; officer roles span multiple funds in the complex, while Board committees (Audit, Governance, Contract Review, Portfolio Management, Compliance Reports and Regulatory Matters, Closed-End Fund) are comprised solely of noninterested Trustees and met regularly in FY2024 (Audit met 10 times) .
Investment Implications
- Compensation alignment: Kirchner’s pay is not disclosed at the Fund level and is paid by Eaton Vance out of the adviser fee, implying limited direct pay-for-performance linkage to EXG’s NAV/market returns; the adviser’s asset-based fee structure (0.94%–1.00% tiers) suggests economic incentives tied to maintaining asset levels rather than explicit officer performance targets at EXG .
- Retention risk: His long-tenured, indefinite-term officer role since 2007 with multi-fund responsibilities and formal SOX certifications indicates continuity in finance leadership; no severance or change-of-control terms are disclosed for Fund officers, which limits visibility into retention economics but suggests stability within the Eaton Vance/Morgan Stanley structure .
- Trading signals: EXG’s shares trade at a material discount to NAV (−7.55%) with a high distribution rate (9.02% at NAV), and long-horizon performance at NAV is solid (10Y 8.04% annualized); monitoring premium/discount dynamics, managed distribution policy notices, and expense ratios is more actionable for investors than officer-specific comp events given the governance model for closed-end funds .
- Insider activity: Section 16(a) compliance indicates no notable officer transaction issues; absence of officer ownership/pledging disclosures reduces visibility into personal alignment, but trustee ownership/deferral mechanisms are disclosed and standard for the complex .