James Hawkes, the 64-year-old chief executive officer and chairman of Eaton Vance, will comply with the firm's mandatory retirement policy and step down from his position as of Oct. 31, 2007. Thomas Faust, Jr., who has been with the firm for 21 years, will succeed him, and in anticipation of that move, the company has named him president.

Faust has been a director with Eaton Vance for the past four years and first joined the firm in 1985 after earning an MBA from Harvard. Hawkes joined the firm in 1970 and was named president and CEO in 1996. He was given the additional title of chairman the following year.

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