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Rating:Reynolds Says Hires, and Perhaps Acquisitions, in the Cards at Putnam Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 13, 2008

Reynolds Says Hires, and Perhaps Acquisitions, in the Cards at Putnam

by: Erin Kello

Bob Reynolds tells P&I's Douglas Appell that Putnam Investments is looking for 10 to 15 more analysts and three to five new fund managers. Also, Reynolds said that although acquisitions bring with them challenges of their own, he would not rule one out.

Reynolds, who took the helm of Putnam in July, also commented on Putnam's parent, Power Financial, which is run by the Montreal-based Desmarais family. "I was very, very comfortable that they serve as owners, serve on the board, but let the people running the business run the business."

Last week Reynolds made his first big hire, recruiting fellow Fidelity alum Jeffrey Carney, most recently with Bank of America, as senior managing director and head of global marketing and products (see The MFWire October 9, 2008).  

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