The Frankfurt-based team will be integrated into Eaton Vance's global income group, which is led by co-directors Michael Cirami and Eric Stein.
As part of the move Astrid Vogler was named vice president and lead portfolio manager. She was a principal and head of fixed-income at Oechsle. Roman Kostal was named vice president and portfolio manager, reporting to Ms. Vogler. He was a principal and fixed-income portfolio manager and research analyst at Oechsle.
The team of five manages about $830 million and will continue to be based in Germany. The team will continue to manage the assets of these legacy clients, which have also been assumed by Eaton Vance. The spokeswoman said moving forward, the legacy strategies will be part of the global income group's offerings.
The new team "provides a much-needed presence in Germany, which is one of the world's largest fixed-income markets," said a statement provided by the spokeswoman. "The global income group's depth and breadth of analysis will also be bolstered through the addition of senior investment professionals who have followed global, sovereign bond markets for decades with a focus on developed markets — specifically the U.S., Europe, Japan and the dollar bloc. The Frankfurt team and their physical location in Frankfurt will bolster the Eaton Vance global income group's expertise."
There will be no change to the investment process, and Oechsle will continue to do business in Germany, the spokeswoman added. Representatives for Oechsle could not be reached for comment.
The Eaton Vance global income group has $17 billion in assets under management.