Eaton Vance is owned by Morgan Stanley, which acquired the century old asset manager in 2021 and now operates it as part of Morgan Stanley Investment Management.
Eaton Vance built its name managing mutual funds, separately managed accounts and specialty strategies including Calvert responsible investing and Parametric direct indexing.
Founded in Boston in 1924, Eaton Vance grew over nearly a century into a multi-strategy asset manager before joining forces with one of Wall Street’s largest banks.
So how did an independent Boston asset manager with roots in the 1920s end up inside a global investment bank, and who runs the business today?
This article looks at Eaton Vance ownership structure, its leadership, its founding story, the Morgan Stanley acquisition, how large the combined business has grown, the funds it manages, and how to contact support.
So let us get started.
Table of Contents
Who Owns Eaton Vance
Eaton Vance is wholly owned by Morgan Stanley, one of the largest investment banks and wealth management firms in the United States.
Visit the official Eaton Vance website to see the funds and strategies still offered under the brand today.
Morgan Stanley completed its acquisition of Eaton Vance in March 2021 for approximately 7 billion dollars, folding the firm into its Investment Management division alongside its own existing fund lineup.
Since then, Eaton Vance has operated as a brand and product family within Morgan Stanley rather than as an independent public company with its own separate shareholders.
| Company Overview | Details |
| Company name | Eaton Vance Management |
| Ownership | Wholly owned subsidiary of Morgan Stanley |
| Parent company | Morgan Stanley (NYSE: MS) |
| Founded | 1924 |
| Founder | Charles F. Eaton Jr. |
| Morgan Stanley CEO | Ted Pick |
| Headquarters | Boston, Massachusetts |
| Ownership type | Private subsidiary of a public parent |
| Parent AUM | 1.81 trillion dollars, Morgan Stanley Investment Management, 2026 |
Is Eaton Vance Publicly Traded or Privately Owned
Eaton Vance stopped trading as an independent public company when Morgan Stanley completed its acquisition in March 2021.
Before the deal, Eaton Vance Corp traded on the New York Stock Exchange under the ticker EV, with its own board of directors and public shareholders.
Today, exposure to Eaton Vance’s business comes only indirectly, through owning shares of Morgan Stanley itself, which trades under the ticker MS.
Former Eaton Vance shareholders received a mix of cash and Morgan Stanley stock as part of the acquisition, effectively converting their ownership into a stake in the larger combined company.
Who Owns Morgan Stanley, the Parent of Eaton Vance
Morgan Stanley is itself a publicly traded company with no single controlling shareholder, owned collectively by large institutional investors and individual shareholders.
Major asset managers such as Vanguard, BlackRock and State Street are among Morgan Stanley’s largest institutional shareholders, similar to the ownership pattern seen across most large US banks.
Because Morgan Stanley itself has no controlling owner, ultimate authority over Eaton Vance flows through Morgan Stanley’s board and executive leadership rather than any single individual.
Readers interested in a rival wealth platform with a similar publicly traded, widely held ownership structure can see our guide on who owns Charles Schwab.
Who Is the CEO Behind Eaton Vance Today
Ted Pick serves as Chairman and Chief Executive Officer of Morgan Stanley, giving him ultimate oversight of Eaton Vance as part of the Investment Management division.
Pick became CEO on January 1, 2024 and was later elected Chairman as well, succeeding longtime CEO James Gorman, who led Morgan Stanley through the original Eaton Vance acquisition.
Eaton Vance’s own former CEO, Thomas E. Faust Jr., led the firm as an independent company for over a decade before the Morgan Stanley deal closed and stepped away from day to day leadership afterward.
Day to day, Eaton Vance branded strategies such as Calvert and Parametric are now run by dedicated investment teams reporting up through Morgan Stanley Investment Management’s leadership structure.
Who Founded Eaton Vance
Charles F. Eaton Jr. founded the firm in Boston in 1924, at a time when professionally managed investment funds were still a new idea in the United States.
The Eaton and Vance names were later combined as the firm merged with other Boston area investment businesses over subsequent decades.
According to Wikipedia, the modern Eaton Vance Corp was established as a holding company in 1981 and later adopted a distinctive hub and spoke structure in 1995 that let it acquire and operate multiple specialized investment affiliates.
That acquisition friendly structure made Eaton Vance an attractive target when Morgan Stanley went looking to expand its own asset management footprint.
How Has Eaton Vance Ownership Changed Over Time
Eaton Vance grew for most of the twentieth century as an independent, publicly traded asset manager, expanding through its own fund launches and smaller acquisitions.
Under its hub and spoke model, the firm acquired Atlanta Capital Management and Fox Asset Management in 2001, took a 49 percent stake in Hexavest in 2012, and purchased responsible investing specialist Calvert Investments in 2017.
The biggest ownership change came in October 2020, when Morgan Stanley announced a 7 billion dollar deal to acquire Eaton Vance outright, a transaction that closed in March 2021.
The acquisition immediately pushed Morgan Stanley’s combined wealth and investment management client assets to roughly 5.4 trillion dollars at the time, a figure that has since grown substantially further.
Combined Asset Management Division
Mutual Funds and SMAs
Responsible Investing
Direct Indexing and Overlay
Major Eaton Vance Milestones
Charles F. Eaton Jr. establishes the firm in Boston.
Eaton Vance Corp is established and later lists publicly.
Eaton Vance restructures to support multiple investment affiliates.
Eaton Vance expands into responsible and sustainable investing.
Morgan Stanley completes its 7 billion dollar purchase of Eaton Vance.
Morgan Stanley’s total client assets cross 10 trillion dollars.
How Much Is Eaton Vance Worth
Morgan Stanley paid approximately 7 billion dollars to acquire Eaton Vance in 2021, one of the largest asset management acquisitions of that decade.
Because Eaton Vance no longer files separate public financial statements, its standalone value today is not reported, and its results are folded into Morgan Stanley’s broader Investment Management segment.
That segment, which includes Eaton Vance, Calvert and Parametric alongside Morgan Stanley’s own funds, reported assets under management of roughly 1.81 trillion dollars in 2026.
| Financial Metric | Value |
| Acquisition price, 2021 | Approximately 7 billion dollars |
| Morgan Stanley Investment Management AUM | 1.81 trillion dollars, 2026 |
| Morgan Stanley total client assets | Over 10 trillion dollars, 2026 |
| Founded | 1924 |
What Investment Strategies Does Eaton Vance Offer
Eaton Vance offers a broad lineup of mutual funds and separately managed accounts covering fixed income, equity, and floating rate loan strategies.
Through its Calvert affiliate, the firm is one of the longest running names in environmental, social and governance focused investing in the United States.
Its Parametric affiliate specializes in direct indexing, tax loss harvesting and options based overlay strategies used heavily by financial advisors and institutions.
Readers who want to compare this bank owned asset manager with an independent, privately held research driven firm can see our guide on who owns Dimensional Fund Advisors.
How Do You Contact Eaton Vance Customer Support
Eaton Vance shareholder and fund services can be reached through Morgan Stanley Investment Management’s general client service line.
Financial advisors and institutions working with Eaton Vance branded funds typically contact their Morgan Stanley relationship manager directly rather than a general public number.
Individual fund shareholders can find fund specific service numbers and forms on the official Eaton Vance website under each fund’s literature section.
| Support Type | Contact Information |
| Corporate headquarters | Two International Place, Boston, MA 02110 |
| Fund shareholder services | See fund literature on eatonvance.com |
| Financial advisors | Contact your Morgan Stanley representative |
| Website | eatonvance.com |
Where Is Eaton Vance Headquartered
Eaton Vance is headquartered at Two International Place in Boston, Massachusetts, the same location it operated from as an independent public company.
Morgan Stanley itself is headquartered in New York City, but has kept Eaton Vance’s Boston base intact as an investment management hub within the combined company.
Is Eaton Vance a Good Asset Manager
Eaton Vance carries a long, well regarded track record in fixed income and floating rate loan investing that predates its acquisition by decades.
Being part of Morgan Stanley now gives Eaton Vance branded funds access to a much larger distribution network and balance sheet than it had as an independent company.
On the downside, some independent minded investors prefer asset managers that remain outside large bank ownership structures, arguing it keeps incentives more clearly aligned with fund shareholders.
Overall, Eaton Vance remains a solid choice for investors specifically interested in its fixed income, responsible investing or direct indexing strategies, now backed by Morgan Stanley’s scale.
Frequently Asked Questions About Eaton Vance
Who owns Eaton Vance
Eaton Vance is owned by Morgan Stanley, which acquired the firm in March 2021.
Is Eaton Vance still publicly traded
No, Eaton Vance stopped trading independently once Morgan Stanley completed the acquisition, though Morgan Stanley itself trades on the NYSE under the ticker MS.
Who is the CEO over Eaton Vance today
Ted Pick, Chairman and CEO of Morgan Stanley, oversees Eaton Vance as part of Morgan Stanley Investment Management.
How much did Morgan Stanley pay for Eaton Vance
Morgan Stanley paid approximately 7 billion dollars to acquire Eaton Vance in a deal that closed in March 2021.
Who founded Eaton Vance
Charles F. Eaton Jr. founded the firm in Boston in 1924.
What brands does Eaton Vance include
Eaton Vance includes the Calvert responsible investing brand and the Parametric direct indexing brand, both operating under Morgan Stanley Investment Management.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.