Robert L. Reynolds was named president and CEO of Putnam Investments, said spokeswoman Laura McNamara. Mr. Reynolds, who was vice chairman and COO at Fidelity Investments before he left in June 2007, will replace Charles “Ed” Haldeman effective July 1. Mr. Haldeman will take on the new title of chairman.
According to a Putnam news release, Jeffrey Orr, chairman of Putnam’s board of directors, said that with Mr. Reynolds alongside Kevin Cronin, Putnam’s head of investments, and Bill Connolly, Putnam’s head of distribution, “we have a very strong management team to move Putnam forward.”
In an interview, Mr. Reynolds said he and Putnam’s leadership team will move aggressively to strengthen Putnam’s investment lineup, adding new products and bringing in new portfolio management talent wherever necessary. Putnam has significant strengths in defined contribution and separate accounts, he said, and the company will do what it takes to be a “winner.”
