Kelly A. Morgan and Robert E. Ginsberg were named co-managers of both the Putnam Voyager Fund and the Putnam Growth Opportunities Fund, effective immediately, said Laura McNamara, spokeswoman for Putnam Investments. Also, Saba Malak, an analyst and portfolio manager on the large-cap growth equity team, was named a team member on the two funds. The three replace Brian A. O'Toole, who was leader of the two funds, and David Santos, who was a member of the team, Ms. McNamara said; both left Putnam. Ms. Morgan, who has been team leader and portfolio manager on the core growth equity team and director of global equity research, will also assume the title of CIO of large-cap growth from Mr. O'Toole while retaining her current duties. Mr. Ginsberg will retain his responsibilities as a portfolio manager on the core growth equity team. In addition, James C. Wiess, senior portfolio manager on the U.S. core team and portfolio leader of the Putnam Investors Fund, was named CIO of U.S. core equities, assuming that title from Joshua H. Brooks, deputy head of investments and CIO for large-cap equities, to whom Mr. Wiess will report.
Matthew Carper was hired as an investment officer by the $13 billion Kentucky Teachers' Retirement System, Frankfort. He will focus on in-house bond investments, said Paul Yancey, CIO. The pension plan manages roughly half its assets internally. Mr. Carper will round out a team of three investment officers and will report to Mr. Yancey. The position opened when Mr. Yancey, previously an in-house fixed-income portfolio manager, became CIO in December; he replaced Stuart Reagan, who retired. Mr. Carper was in corporate finance and accounting for a large church in Louisville, Ky.; Mr. Yancey declined to provide further information.
Darlene DeRemer was hired as a partner of Grail Partners, the boutique investment bank focused on the money management industry that Donald H. Putnam launched last month. She was a managing director at Putnam Lovell NBF Group, the investment bank that Mr. Putnam co-founded in 1987. NBF terminated Mr. Putnam last month, citing "irreconcilable differences." A Putnam Lovell spokesman, who asked not to be identified, confirmed Ms. DeRemer's departure. Mr. Putnam at Grail was not immediately available for comment.