Eaton Vance is emerging from its corporate shell, according to a profile in the Boston Globe. The public-firm with $59 billion in assets under management has kept voting shares inside a small circle and limited its contact with analysts. That is now changing, the paper notes. Five analysts now follow the stock. William Steul, chief financial officer of the fund firm, attributes the outperformance of the shares to that increased analyst coverage.



Schwab Seeks Retail Prez

The senior ranks at Charles Schwab are getting another shakeup. The broker is seeking a new head for its retail business as Steven L. Scheid, vice chairman and president of Schwab Retail resigned. The firm is leaning towards internal candidates to fill the post. While it looks David Pottruck will assume Scheid's duties.

Schwab also announced that Dawn Lepore, vice chairman and cio, will expand her corporate responsibilities and take the title of vice chairman of Technology and Administration. Geoff Penney, executive vice president assumes the position of chief information officer. Mary McLeod, joins the broker as executive vice president, Human Resources from a similar post at Cisco Systems. Both Penney and McLeod will report to Lepore. Finally Beth Sawi, chief administration officer, will transition to an executive coaching role as an interim step to her retirement.



Comdisco Participants Lost in Chapter 11

Those keeping score on failed companies offering employer stock in their 401(k) program can add another. Last July 16 Comdisco, a one-time computer lessor transmogrified into a dotcom incubator, filed chapter 11. Comdisco's most recent 11k filing showed $89 million of $186 million in its plan in the Comdisco stock fund as of September 1999. More than $59 million of that amount was transferred into the plan through the conversion of an ESOP in 1999. The plan recordkeeper was Putnam Investments. Yesterday, Comdisco's board told the bankruptcy judged that it planned to unwind its remaining venture capital business.



Court Lets Enron 401k Suit Start

New York Federal Bankruptcy Court Judge Arthur Gonzalez ruled that law suits brought by Enron employees over the company 401(k) plan can start on June 21 even though the bankruptcy proceedings will be ongoing. He also ruled that Enron must turn the documents it provided to government panels over to lawyers representing the plan participants. The participant suits were filed in Houston. The next step expected to be taken by the participants lawyers is a request that Enron's $85 million fiduciary insurance policy be set aside to pay any judgments awarded to participants.  

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