Robert F. Lucey, a senior managing director and chief of operations of Putnam Investments, Boston, will retire at the end of this year.
Mr. Lucey joined Putnam in 1985 as executive vice president and was named president of the operations unit in 1986. Since 1994, Mr. Lucey has overseen corporate accounting, general services, legal services, compliance and trustee relations. Before joining Putnam, Mr. Lucey was vice president of Fidelity Institutional Investors.
Putnam's defined contribution group leader, Karnig Durgarian, now chief of the defined contribution business, will become senior managing director and chief of operations. Thomas M. Turpin, chief administrative officer for Putnam's mutual funds and institutional businesses, will become chief of the defined contribution unit.
David T. Ellis was hired as senior portfolio manager and Hamburg Tang Jr. as portfolio manager at Reich & Tang Capital Management, New York, in an expansion of its global investment advisors unit, which manages global high-yield bonds for institutional clients.
Mr. Ellis was a high-yield bond manager at J.P. Morgan & Co., New York. responsible for overall portfolio strategy and security selection. Mr. Tang was senior emerging markets credit analyst, also at J.P. Morgan, where he worked on credit strategy for Asia and other emerging markets.
Jon Groom was hired as the first president of Mellon Global Investments, Boston. He was senior vice president and head of offshore mutual funds at Alliance Capital Management, New York. His duties there will be assumed by Kurt Schoknecht, senior vice president of offshore funds strategic business development.
Morton Fearey was hired as director of marketing for Westfield Capital Management, Boston. He replaces Karen Agnew, who left several months ago to pursue other interests. Mr. Fearey said he will work mainly with institutional clients, particularly on the company's hedge funds. Mr. Fearey most recently was senior vice president of marketing for the southern half of the United States for Santander Global Advisors, which recently was closed by its parent company, Banco Santander.
Patrick Moore was hired as a vice president at Metropolitan West Asset Management LLC, Los Angeles. He was vice president, asset consulting, at Deutsche Bank Strategic Asset Consulting.