Brett S. Goldstein was promoted to co-CIO of Putnam Investments' global asset allocation unit, effective June 30.
In this new position, he will join Robert J. Schoen, the current CIO, to co-manage Putnam's $17 billion global asset allocation unit, a Putnam spokesman said in an email.
Messrs. Goldstein and Schoen will share responsibility for the overall strategy and positioning of the GAA business, including oversight of portfolio construction, security-selection research and risk management, a news release said.
Mr. Goldstein currently is a portfolio manager of a suite of multiasset funds within the GAA unit and will continue to manage the funds.
"The broad expertise of Rob Schoen in the multiasset arena, combined with the portfolio acumen of Brett Goldstein, particularly in the target-date sphere, will provide strong and strategic leadership," said Aaron M. Cooper, chief operating officer, in the release.
Putnam managed a total of $198 billion in assets as of May 31.