and Steve Oristaglio
are not shrinking away from the daunting task of turning around the performance of Putnam Investments' funds. The two top executives (they share the title of chief investment officer) have taken the tiger by the tail and moved into offices on the same floor in the same building as Putnam's fund managers and analysts, reports the Boston Globe
The move is part of an effort on the part of the two top execs to turn the psychology at the firm around. "When a baseball hitter's in a slump, you're focused on psychological change, as well as technical improvement," Oristaglio told the paper.
Oristaglio proposed the idea of the office move to Haldeman, who immediately saw the benefits of walking the halls and increasing the pair's visibility.
Haldeman is considered the heir to CEO Larry Lasser at Putnam. He joined the firm earlier this year from Delaware Investments in Philadelphia where he was CEO.
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