Eaton Vance Corp. (NYSE:EV) Q2 2020 Earnings Conference Call - Final Transcript

May 20, 2020 • 11:00 am ET


Eaton Vance Corp. (NYSE:EV) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Eaton Vance Second Quarter Fiscal 2020 Earnings Conference Call and Webcast. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Eric Senay. Please go ahead.

Pierric G. Senay

Thank you. Good morning and welcome to our fiscal 2020 second quarter earnings call and webcast. With me this morning are Tom Faust, Chairman and CEO of Eaton Vance as well as our CFO, Laurie Hylton. In today's call, we will first comment on the quarter and then take your questions. As always, the full release -- the full earnings release and charts we'll refer to during the call are available on our website under the headline Investor Relations.

Today's presentation contains forward-looking statements about our business and financial results. The actual results may differ materially from those projected due to risks and uncertainties in our business, including but not limited to, those discussed in our SEC filings. These filings, including our 2019 Annual Report and Form 10-K are available on our website or upon request at no charge.

I will now turn the call over to Tom.

Thomas E. Faust

Good morning, and thank you for joining the call.

Amid the continuing COVID-19 pandemic, I want to start by offering my sincere best wishes for good health to each of you and your families. Over recent months, we've seen the tragic loss of human life in nearly every country around the world, as well as massive disruption to the global economy in the world's financial markets.

We've seen genuine heroism displayed by the countless health care workers, first responders and other essential service providers who are putting themselves in harm's way serving others. All of us at Eaton Vance are deeply grateful for their service. In recognition of the sacrifices of the COVID-19 heroes and the suffering of those experiencing ill health or economic hardship due to the pandemic, the company and our employees have contributed $1 million to support COVID-19 relief efforts in our communities and around the world.

In this challenging period, Eaton Vance's primary concerns are the health and safety of our employees and their families. The resilience of our business and serving the needs of our clients and business partners each and every day. Over the last couple of months, the creativity, adaptability and teamwork of our staff have been put to good use meeting the challenges of operating amid of pandemic. Since the middle of March, nearly all Eaton Vance employees have been working from home, connecting with each other and our clients and business partners chiefly through video technology.

While not the same, it's being together physically, our business has functioned seamlessly. We have not experienced any notable disruptions due to operational issues, loss of communication capabilities, technology failure or cyber attacks. Throughout a period of heavy account activity and highly volatile markets,