Valerie A. Mosley
About Valerie A. Mosley
Valerie A. Mosley (born 1960) is an independent (“noninterested”) Trustee of Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG), serving on the Eaton Vance closed-end funds boards since 2014; her current EXG board term is Class III through 2027. She is Chairwoman & CEO of Valmo Ventures and founder of Upward Wealth (d/b/a BrightUp), and previously was a Partner/Senior VP, Portfolio Manager and Investment Strategist at Wellington Management (1992–2012). She currently serves on public company boards at DraftKings (since Sep 2020) and Envestnet (since 2018), and previously served on Dynex Capital (2013–2020) and Groupon (2020–2022); she is also a board member of Caribou Financial (private). Each current Trustee is designated as not an “interested person” under the Investment Company Act of 1940.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wellington Management Company, LLP | Partner, SVP, Portfolio Manager, Investment Strategist | 1992–2012 | Senior investment leadership across strategies |
| PG Corbin Asset Management | Chief Investment Officer | 1990–1992 | Led CIO function |
| Kidder Peabody | Institutional corporate bond sales | 1986–1990 | Credit markets coverage |
External Roles
| Organization | Role | Tenure | Public/Private | Committees/Notes |
|---|---|---|---|---|
| DraftKings, Inc. | Director | Since Sep 2020 | Public | Board service |
| Envestnet, Inc. | Director | Since 2018 | Public | Board service |
| Dynex Capital, Inc. | Director (former) | 2013–2020 | Public | Former REIT board |
| Groupon, Inc. | Director (former) | 2020–2022 | Public | Former e-commerce board |
| Caribou Financial, Inc. | Board member | Not specified | Private | Auto loan refinancing company |
Board Governance
- Board composition and independence: EXG’s Board comprises ten noninterested Trustees (i.e., independent under the 1940 Act). Trustees oversee the adviser/administrator and service providers, with six standing committees (Audit; Contract Review; Governance; Portfolio Management; Compliance Reports & Regulatory Matters; Closed-End Fund) to support risk oversight.
- Committee assignments and chair roles (Mosley):
- Governance Committee: Chairperson; all members are NYSE-independent; committee handles board structure, nominations, and compensation recommendations for noninterested Trustees.
- Portfolio Management Committee: Member; oversight of portfolio process, trading policies, and performance monitoring.
- Contract Review Committee: Member; reviews service provider contracts and conflict-of-interest matters.
- (Audit, Compliance, Closed-End Fund Committee compositions provided; Mosley is not listed as an Audit member in the committee rosters disclosed.)
- Meetings and attendance: For the fiscal year ended Oct 31, 2024, Trustees of each Fund met 9 times; committee meetings: Audit 10; Contract Review 5; Governance 4; Portfolio Management 7; Compliance 8; Closed-End Fund Committee 1 (plus 10 meetings for its predecessor). Each Trustee attended at least 75% of Board/Committee meetings of their assignments; none of the Trustees attended the Funds’ 2024 Annual Meeting of Shareholders.
Fixed Compensation
| Item | Amount (USD) | Notes |
|---|---|---|
| Annual retainer (noninterested Trustee) | $325,000 | Paid pro rata by each Eaton Vance fund overseen, based on relative net assets |
| Additional retainer – Chairperson of noninterested Trustees | $150,000 | If serving in that role (not Mosley) |
| Additional retainer – Committee Service | $82,500 | For committee participation |
| Additional retainer – 4+ Committees | $15,000 | If serving on four or more committees |
| Additional retainer – Committee Chair | $35,000 | Split if Co-Chairs; applicable to Mosley as Governance Chair |
| Total compensation from Eaton Vance Fund Complex (CY 2024) – Mosley | $430,000 | Aggregate across fund complex for 2024; excludes reimbursed expenses |
Structure is primarily cash retainers; amounts are allocated across all 123 funds/series overseen; expense reimbursements aggregated $96,845 (complex-wide) for calendar 2024.
Performance Compensation
| Component | Terms/Performance Metrics | Disclosure Status |
|---|---|---|
| Cash bonus/Target bonus | Not applicable for noninterested Trustees | No bonus structure disclosed for Trustees; compensation is fixed retainers and committee fees |
| Equity awards (RSUs/PSUs) | Not applicable | No equity awards disclosed for Trustees |
| Options/vesting | Not applicable | No option awards disclosed for Trustees |
| Clawbacks/COC provisions | Not applicable | Not disclosed for Trustees |
Other Directorships & Interlocks
| Company | Overlap/Interlock Considerations | Notes |
|---|---|---|
| DraftKings, Inc. (Director) | No supplier/customer relationship to EXG funds disclosed | Public company board |
| Envestnet, Inc. (Director) | Envestnet is a wealth tech platform; no transaction with EXG disclosed | Public company board |
| Dynex Capital, Groupon (former) | Historical roles; no current interlocks disclosed | Former public boards |
| Caribou Financial (private) | No related-party transactions with EXG disclosed | Private company board |
- Conflict oversight: Mosley serves on the Contract Review Committee which explicitly evaluates service provider contracts and any actual/potential conflicts (including with Eaton Vance/affiliates). This mitigates conflict risk at the board level.
Expertise & Qualifications
- Capital markets/investment management expertise from Wellington (20 years), CIO role at PG Corbin, and credit sales at Kidder Peabody; current fintech and governance leadership (Valmo Ventures; BrightUp).
- Governance leadership: Chair of the Governance Committee across the Eaton Vance closed-end funds, responsible for board composition, nominations, and compensation recommendations for noninterested Trustees.
- Year of birth: 1960 (board matrix).
Equity Ownership
| Holding | As of Date | Amount/Range | Notes |
|---|---|---|---|
| EXG (Fund-level) – Mosley | May 27, 2025 | None | “As of May 27, 2025, no other Trustee beneficially owned a Fund’s equity securities” (EXG specific disclosure); only Mr. Quinton held EXG in $50,001–$100,000 range |
| Eaton Vance family of funds (aggregate overseen) – Mosley | May 27, 2025 | Over $100,000 | Aggregate dollar range across funds overseen (may include deferred comp plan balances) |
Alignment note: Lack of EXG-specific ownership but meaningful aggregate ownership across the Eaton Vance fund family. No pledging/hedging or percentage ownership data disclosed.
Governance Assessment
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Strengths
- Independence and experience: Noninterested Trustee with deep investment and governance background; serves as Governance Committee Chair, a key role for board effectiveness.
- Conflict oversight: Member of Contract Review Committee tasked with monitoring adviser/service provider conflicts—important for closed-end funds.
- Active committee load: Governance (Chair) and Portfolio Management (member) signal involvement in board operations and performance oversight.
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Potential Watch Items
- Attendance: While each Trustee met the ≥75% threshold, none attended the 2024 Annual Meeting of Shareholders—this may be viewed as a minor engagement flag.
- Ownership alignment: No EXG-specific beneficial ownership disclosed as of May 27, 2025 (though aggregate family-of-funds ownership >$100k). Some investors may prefer fund-specific skin-in-the-game.
- External commitments: Multiple public and private boards plus operating roles can raise overboarding/time-allocation considerations, though not flagged by the issuer.
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Compensation Structure
- Fully cash-based with defined retainers and committee chair fees; no performance-linked or equity-based elements for Trustees—typical for fund boards but offers limited pay-for-performance linkages. Mosley’s total 2024 complex-wide compensation was $430,000.
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Overall View
- Mosley brings seasoned investment and governance expertise, chairs the Governance Committee, and participates in key oversight committees (Portfolio Management; Contract Review). Independence, committee leadership, and complex-wide ownership support investor confidence; minor flags include lack of EXG-specific ownership and non-attendance at the 2024 annual meeting.