Thomas Lucey, the chief of Putnam's retail, institutional, and retirement management businesses, will retire at the end of June. He is 56 years old. Steven Spiegel, a senior managing director currently responsible for its international distribution and corporate development, will permanently add Lucey's former responsibilities to his own.

Lucey's direct reports, Richard Monaghan, head of Putnam Retail Management, John Brown, head of the defined benefit group, and Thomas Turpin, head of the 401(k) area will now report to Spiegel.

A Putnam spokesperson emphatically declined any connection between the retirement and the mid-April announcement of layoffs.

Before joining Putnam, Spiegel was president of Lehman Brothers Financial Services division and his responsibilities included global asset management and distribution to mid-size institutional and private clients. Prior to that position, Spiegel was chairman of Lehman Brothers International in London, with duties that included responsibility for the retail and institutional businesses.

The Boston-based fund complex manages approximately $321 billion in total assets.  

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