More than a year after his abrupt departure from Fidelity Investments
, Bob Reynolds
has found a place to land. Reynolds will Putnam Investments
as president and chief executive officer next month.
| Bob Reynolds |
president and CEO
, the current holder of these positions, will become the chairman of Putnam Investment Management LLC
has learned that Putnam employees will not have to wait long to meet Reynolds. He had a meet-and-greet with employees this morning and another session is scheduled for this afternoon.
“Bob brings substantial industry experience, an outstanding record of success, and a high energy level to Putnam’s leadership team,” said R.
, chairman of the board of directors of Putnam Investments.
Reynolds also had high praise for his new employer, “Putnam has a strong reputation for its broad investment management capability, distribution prowess, and award-winning service. I am honored and excited to join Putnam and lead a company that has one of the great legacies in the industry.”
Reynolds was previously vice chairman and chief operating officer of Fidelity Investments from 2000 to 2007.
The news is interesting in that Haldeman signed a new two-year contract extension at Putnam in early May. At the time an industry consultant told The MFWire
that Putnam's parent Power Financial
had not been actively seeking a replacement for Haldeman as his contract was expiring. Putnam than had no choice but to sign Haldeman on for an extension, the consultant said.
There has also been speculation among industry insiders that Power Financial would possibly purchase another company to roll Putnam into, thus eliminating the Putnam brand.
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