Putnam officials have confirmed that Deborah F. Kuenstner has decided to leave the Boston-based fund firm. Kuenster has no immediate job plans, according to a Putnam spokesperson. She had been managing director and chief investment officer of the Large Cap Value team and International Value team and portfolio leader for the Putnam Classic fund reporting to Steve Oristaglio, head of Investments. She was also a member of Putnam's Executive Board and had been at the fund firm since 1997.
Josh Brooks, chief investment officer of Large Cap Equities, assumes responsibility for the Value teams. Michael Abata and Ronald J. Bukovac are taking over as co-portfolio leaders for the Putnam Classic Equity Fund.
"We appreciate her contributions across many areas of the firm and the legacy that she leaves of a strong Value team. We will miss her and wish her well in future endeavors," said Oristaglio.
"During eight years at Putnam, the value team has made significant strides and performance of the value funds has improved significantly over that period," said Kuenstner in a statement. "Personally, I have been able to make many contributions in the Investment Division and Putnam and now want to do something else. I am just beginning to define what that will be."
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