Laura T. Donovan

About Laura T. Donovan

Laura T. Donovan is Chief Compliance Officer (CCO) of Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG), a Massachusetts business trust and registered investment company, and has served as an officer since 2024; she is listed with year of birth 1976 and is a Vice President of Eaton Vance and Boston Management and Research (BMR), serving as an officer across 123 registered investment companies within the complex . The Board’s compliance framework assigns the Fund CCO responsibility to oversee implementation and testing of the Fund’s compliance program and to report to the Board regarding compliance matters and risk oversight, situating Donovan’s role at the center of control and governance (when combined with her designation as CCO) . EXG’s recent shareholder report indicates six-month NAV return of -0.41%, one-year NAV return of 6.20%, and distribution rate at NAV of 9.02% as of April 30, 2025, providing fund context during her tenure .

Past Roles

External Roles

No external directorships or roles are disclosed for Donovan in EXG’s proxy or shareholder reports .

Fixed Compensation

• Executive compensation amounts (salary, bonus, equity) are not disclosed at the fund level for officers. The proxy notes officers’ positions with Eaton Vance and ownership of Morgan Stanley stock; as a result, officers benefit from advisory and/or administration fees paid by each Fund to Eaton Vance, implying compensation alignment primarily through the adviser’s corporate structure rather than fund-level pay .
• Officer terms are indefinite (not fixed-term contracts), and titles may change over time; officers serve across the Eaton Vance fund complex .

Performance Compensation

No performance metric linkages (TSR, revenue/EBITDA targets, ESG goals), equity award structures (RSUs/PSUs/options), or vesting schedules are disclosed for fund officers in EXG’s proxy materials .

Equity Ownership & Alignment

• The proxy explicitly states that, due to officers’ positions at Eaton Vance and their ownership of Morgan Stanley stock, officers benefit economically from EXG’s advisory/administration fees paid to Eaton Vance; equity alignment is therefore with the adviser’s parent (Morgan Stanley) rather than with EXG shares directly .
• Beneficial ownership data in the proxy is provided for Trustees (not officers). As of May 27, 2025, only Trustee Keith Quinton disclosed a dollar range of EXG equity securities owned ($50,001–$100,000), while other Trustees did not disclose EXG holdings; aggregate holdings across the Eaton Vance family of funds for Trustees are “Over $100,000” for all Trustees listed . No officer share ownership in EXG is disclosed .
• Pledging/hedging guidelines, officer ownership requirements, and compliance status are not disclosed for officers .

Employment Terms

• Title/Role: Chief Compliance Officer; Vice President (Eaton Vance and BMR) .
• Officer Since: 2024 (EXG) .
• Term: Indefinite; officers hold indefinite terms of office within the Eaton Vance funds .
• Scope: Officer across 123 registered investment companies in the complex (includes hub-and-spoke structures) .
• Business Address: One Post Office Square, Boston, Massachusetts 02109 .
• CCO Responsibilities: Oversee implementation and testing of the Fund’s compliance program; provide compliance and risk oversight reporting to the Board .

Performance & Track Record

Fund performance context (as of April 30, 2025):

Note: EXG is a registered investment company; corporate revenue/EBITDA metrics are not applicable. The Board holds six regular meetings per year and oversees risk via committees, receiving reports from the CCO and other service providers .

Board Governance

• Structure: Ten noninterested Trustees (reduced to nine members temporarily during August 2025 events), with committee-based oversight including Audit, Governance, and Compliance Reports & Regulatory Matters .
• Compliance Committee Chair: Susan J. Sutherland chairs the Compliance Reports and Regulatory Matters Committee; the CCO reports into this governance framework .
• Chairperson Changes: Following the passing of former Chairperson Mark R. Fetting (Aug 9, 2025), Susan J. Sutherland served as acting Chair; Scott E. Wennerholm was appointed Chairperson for a 4-year term effective Aug 27, 2025 .

Investment Implications

• Pay-for-performance visibility: Fund-level officer compensation is not disclosed; economic alignment is primarily through Eaton Vance/Morgan Stanley compensation structures and fee economics rather than EXG share-based incentives. This limits direct pay-performance assessment and reduces direct trading signal relevance from officer incentives .
• Retention risk: Officers serve indefinite terms across 123 funds, suggesting institutional continuity. The CCO role is central to governance, but lack of disclosed employment agreements or severance terms at the fund level constrains formal retention analysis .
• Alignment and potential conflicts: Officer interests (via Morgan Stanley stock ownership and adviser fee economics) align with adviser profitability, not necessarily with EXG’s market price performance. This is a governance consideration rather than a near-term trading catalyst .
• Trading signals: No insider Form 4 activity or officer EXG share ownership is disclosed; Trustee EXG ownership is minimal. As such, insider selling pressure or pledging red flags for Donovan are not observable from fund disclosures .
• Governance robustness: The Board’s structured committee oversight and explicit CCO reporting channels support compliance and operational risk management—generally positive for fund operations and discount-to-NAV management, though not directly linked to Donovan-specific compensation levers .

Key data gaps: No disclosure on Donovan’s salary, bonus, equity awards, vesting, severance, change-of-control, clawbacks, ownership guidelines, or non-compete terms in EXG filings. Conclusions are based on officer role, governance framework, and adviser alignment language in the proxy.

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