Putnam has named a new chairman and a new president while Gabelli named a new director for three of its funds.

John A. Hill, 58, will take over as chairman of the Board of Trustees of the Putnam Funds, and George Putnam III, 48, will take the position of president of the funds the company announced today. Both men fill posts vacated by George Putnam when he retired on June 30.

Hill has served on the board as an independent trustee since 1985 and has been a vice-chairman since 1998. Hill is the vice-chairman and managing director of investment advisor First Reserve Corporation.

George Putnam III, 48, has served on the Board of Trustees of the Putnam Funds since 1984 and is president of New Generation Research, Inc., a publisher of financial advisory and other research services, and New Generation Advisers, Inc., an investment advisor which provides advice to private funds.

Gabelli Funds announced that Mary E. Hauck will be a trustee of the Gabelli Blue Chip Value Fund and the Gabelli Utilities Fund, as well as a director of the Gabelli ABC Fund. She already serves as a director of The Treasurer's Fund, of which she was a former president.

In another appointment, Gabelli said that Arthur V. Ferrara, CLU, former Chairman and CEO of the Guardian Life Insurance Company of America, was named a director of The Treasurer's Fund. Mr. Ferrara also serves as a director of the Gabelli Capital Asset Fund.  

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