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Rating:Reynolds Snaps Up Another Top Fido Vet, This Time In Tech Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 14, 2015

Reynolds Snaps Up Another Top Fido Vet, This Time In Tech

Reported by Neil Anderson, Managing Editor

Bob Reynolds just filled another key post with a Fidelity veteran.

Yesterday Reynolds confirmed the appointment of Sumedh Mehta as chief technology officer at Putnam [profile], reporting to chief financial officer Clare Richer. Mehta most recently served as senior vice president of Fidelity Investment Management Technology.

Sumedh Mehta
Putnam Investments
Chief Technology Officer
"We are currently interviewing candidates to succeed him [Mehta]," Fido spokesman Jeff Cathie tells MFWire.

An alumnus of Babson, Columbia, and the University of Southampton, Mehta has both his MBA and two degrees in electronic engineering. He worked at Marsh & McLennan, Mercer, The Reference, and the Mathworks before joining Fidelity. At Putnam Mehta succeeds Eric Meltzer, who moved to a similar role at OppenheimerFunds earlier this year.

A key part of Reynolds vision for Putnam and its affiliates is the retirement plan space, where technology is king. Indeed, Reynolds invested for years in the buildout of the retirement plan platform of Putnam's sister company, Great-West, before merging the two retirement plan businesses with a third, from J.P. Morgan, to create the giant Empower last year.

"We believe that leveraging evolving technology can be a critical factor in allowing our firm — and industry — to continually elevate how we serve our clients and the quality of offerings that we can provide them," states Reynolds, who is CEO of both Putnam and of all of Great-West here in the U.S. "As we build upon our deep commitment to advance technology, we are pleased to have a highly seasoned professional like Sumedh help lead the charge, bringing vision and creativity to the role and our firm's mission in this area."

As of June 30, Putnam had $156 billion in AUM. 

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