American investment management firm Eaton Vance Management (EVM) has appointed Stephen Concannon and Jeffrey Mueller as co-directors of the high yield investments unit.
They will replace Michael Weilheimer, who is set to retire on 1 January 2020.
Weilheimer joined EVM in 1990 and has been the director of the unit for the past 24 years.
He will continue to lead the group’s investment strategy and retain his portfolio management responsibilities until retiring, the company said.
EVM chief income investment officer Payson Swaffield said: “Mike has achieved remarkable success during nearly three decades with EVM, both building our high-yield franchise and developing a strong team of talented individuals poised to continue the group’s record of investment excellence and client service.
“Steve and Jeff have emerged as talented leaders under Mike’s leadership; I am confident they will guide our high-yield team forward to continued success.”
Concannon, who is based in Boston, joined EVM in 2000 as a high-yield analyst. He was elevated to the role of portfolio manager in 2012.
Mueller, who is based in London, joined Eaton Vance Advisers International (EVAI) in 2015. He was previously associated with Threadneedle Investments, Centaurus Capital and Amaranth Advisors.
Eaton Vance offers advanced investment strategies and wealth management solutions to investors around the globe. It had consolidated assets under management of $457.6bn as of 31 March 2019.