Putnam picks 4 global asset allocation co-heads

James Fetch, Robert Kea, Robert Schoen and Jason Vaillancourt were named co-heads of global asset allocation at Putnam Investments, confirmed spokesman Jon Goldstein.

They replace Jeff Knight, who left Putnam this week to pursue other opportunities.

The four co-heads are longtime Putnam veterans and will continue in their responsibilities as portfolio managers. They will report to Walter Donovan, chief investment officer.

The global asset allocation team manages about $10 billion in areas such as asset and risk allocation, absolute return, and retirement and college savings. Mr. Fetch leads portfolio construction and risk; Mr. Kea drives top-down equity efforts; Mr. Schoen oversees equity process and risk; and Mr. Vaillancourt manages global macro efforts.

“It’s a very well-oiled machine at this point,” Mr. Goldstein said in a telephone interview. “Each co-head and the team have very clear, distinct roles.”