Putnam institutional chief Brown to resign

John Brown will resign as Putnam Investments' head of institutional management on June 30 for "personal reasons," Charles "Ed" Haldeman, president and CEO, said in an internal memo. John Boneparth, senior managing director and head of Putnam's international business, will assume responsibility for both domestic and international institutional assets. Also, Richard Monaghan, senior managing director and head of domestic retail, will add oversight of international retail assets from Mr. Boneparth. Putnam's assets under management as of May 31 stood at $213 billion, down from $280 billion last October.