Jim Brockelman was named managing director for adviser sales for Putnam Investments' defined contribution business, and Michael MacWade was named managing director of relationship management, Edmund F. Murphy III, Putnam managing director and head of defined contribution, said in an interview.
Mr. Brockelman replaces Ben Lewis, who has taken on new duties in directing Putnam's efforts to expand the company's large plan sponsor business, Mr. Murphy said. “We wanted a more dedicated focus on that space,” Mr. Murphy said. Mr. Lewis is now managing director for mid/large market sales.
Messrs. Brockelman, Lewis and MacWade will report directly to Mr. Murphy.
For the past two years, Mr. Brockelman had run The Brockelman Group, which provided counseling services to providers on sales, marketing and distribution, Mr. Murphy said. Mr. Brockelman has closed his firm. Previously, Mr. Brockelman had been executive vice president of national sales for John Hancock Retirement Plan Services.
Mr. MacWade will focus on supporting midsize, large and “mega-plans,” according to a Putnam news release. Mr. MacWade worked in relationship management, client service and operations at Fidelity Investments, the news release said.
He left Fidelity in June. A spokesman for Fidelity, Michael Shamrell, said in an interview that Mr. MacWade was replaced by Joe Kurtzer. Mr. Shamrell declined to discuss Mr. Kurtzer's responsibilities or his title, or Mr. MacWade's former title.