Eaton Vance muni bond big headed out the door

Robert MacIntosh, co-director of the municipal bond group at Eaton Vance Corp., is leaving the company. Mr. MacIntosh, who joined Eaton Vance in 1991, directly managed a number of funds — including the closed-end $840.2 million Eaton Vance Municipal Bond Fund (EIM). He also ran a slew of single-state closed-end muni bond funds. While Mr. MacIntosh could not be reached for comment, Robyn Tice, a spokeswoman for Eaton Vance, confirmed his impending departure, adding: “His commitment and dedication to Eaton Vance for more that 19 years will be sincerely missed.” Eaton Vance, a money manager, declined further comment on Mr. MacIntosh's exit. The firm did note, however, that he will be replaced by Thomas Metzold, who joins Cynthia Clemson as co-director of the muni group, a position she's held with Mr. MacIntosh since November 2005. Mr. Metzold will remain co-portfolio manager of the $718.1 million Eaton Vance High Yield Municipal Income Fund (ETHYX) and the $324.6 million Eaton Vance National Municipal Opportunities Trust (EOT), a closed-end fund. Mr. Metzold joined Eaton Vance in 1987 as a high-yield municipal bond analyst covering the health care and hospital sectors, and became a portfolio manager in 1991. “Tom and Cindy have worked together effectively for 23 years and have been instrumental in the development of our municipal income capabilities,” Payson Swaffield, chief income investment officer at Eaton Vance, said in a statement. “I am confident that under their leadership, we can further enhance our municipal investment offerings and provide expanded opportunities for our talented municipal bond group.” Eaton Vance has yet to appoint new managers for the funds that were directly handled by Mr. MacIntosh.