Duncan W. Richardson, executive vice president and chief equity investment officer of Eaton Vance Management, will retire on Oct. 31, according to Robyn Tice, company spokeswoman.
Thomas E. Faust Jr., Eaton Vance chairman and CEO, will take over Mr. Richardson's duties while a search for a successor is conducted.
Mr. Richardson joined Eaton Vance as an equity research analyst in 1987, became a portfolio manager in 1990 and has led EVM's equity group since 2001. Eaton Vance's equity group managed $37.8 billion in client assets as of June 30.
In an interview, Mr. Richardson said he was retiring for personal reasons. “I have the best job in the world,” he said. “I do love the business and the people. Eaton Vance is like home to me … it seemed like a good time (to retire). Eaton Vance is in a great place right now.”
Mr. Richardson said he and his wife want to devote more time to their involvement with non-profit organizations and charities. “I guarantee you won’t see me in investment management,” he added.