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Defined Contribution

Putnam appoints director of DCIO strategic relationships

Angela Achatz was named director of defined contribution investment-only strategic relationships at Putnam Investments, a spokesman confirmed.

It is a new position. Ms. Achatz, who started June 21, will work alongside sales professionals and investment research teams at record-keeping platforms and intermediary home offices, representing Putnam's lineup of mutual funds and collective investment trusts.

She reports to Steven P. McKay, head of DCIO at Putnam.

Previously, Ms. Achatz was head of DCIO for Ivy Distributor Inc., the distributor of Ivy Funds mutual funds. A spokeswoman could not immediately be reached for information on a replacement.

Putnam had $173 billion in total assets under management as of May 31, including more than $20 billion in DCIO assets.