A successor for Jean-Marie Eveillard has been found. Morningstar reports that First Eagle funds has hired Matt McLennan to manage the First Eagle Global and First Eagle Overseas funds. McLennan, previously a portfolio manager with Goldman Sachs, starts at First Eagle Sept. 8, 2008.

The hire represents new hope for First Eagle. Eveillard's former protege Charles de Vaulx, who took over for the investing legend in January of 2005, abruptly departed the value shop in March of 2007. He joined International Value Advisers, which was started by a group of First Eagle alums, in May of 2008. Eveillard was then forced to emerge from retirement to take over management of of the funds. 

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