Q&A with muni investor Tom Metzold, leaving Eaton Vance for MBIA

miércoles 17 de junio de 2015 13:39 GYT

By Hilary Russ

NEW YORK, June 17 (Reuters) - Well-known municipal bond investor Tom Metzold on Tuesday announced his retirement after 28 years at Eaton Vance Management.

Metzold, who looks like a bruiser but is an affable straight-talker, went to work at Eaton Vance in 1987 right out of graduate school at State University of New York at Albany.

There's a silver lining for fans, though: he's moving to MBIA Inc. subsidiary National Public Finance Guarantee Corp. He will lead National's secondary markets business and coordinate outreach to trading desks. He leaves Eaton Vance, which manages $28 billion in municipal assets, on July 31 and starts at National three days later.

Here, Tom discusses investing and why he's pushing for a muni bond insurance comeback.

REUTERS: What will you be doing at National? METZOLD: We'll look to reenergize and reinvigorate and bring National back to one of the leaders in the insurance industry.

This is part of the grand strategy and plan to emerge from the depths of the financial crisis, become a phoenix rising from the ashes.

REUTERS: Why did you leave Eaton Vance? METZOLD: I had been thinking about retiring anyway. I had casually mentioned it to Tom Weyl (head of new business development) at National. He used to be our head of credit research. He said if you're going to retire, I need somebody like you who can press the flesh. I had planned to ride off into the sunset.

There's no ill will. When I told the staff, I started getting choked up. The department is more than strong enough to handle this.   Continuación...