Bob Reynolds and his Putnam [profile] leadership team have a new board member that comes from the top of the broker-dealer side of the business.

Greg Fleming Putnam Investments Board Member

Greg Fleming has joined the Boston-based mutual fund shop's board of directors, Justin Baer of the Wall Street Journal reports. Fleming is an alumnus of both Mother Merrill and Morgan Stanley, and he served as head of Morgan Stanley's wirehouse before leaving earlier in 2016. And prior to leading Morgan Stanley Wealth Management, Fleming spent more than five years as president of Morgan Stanley Investment Management (which, among other products, offers its own mutual funds).

Fleming has returned to teaching at Yale Law School as a senior research scholar. He held a similar position at the law school in 2009, between leaving Merrill and joining Morgan Stanley. Prior to Merrill he worked at Booz Allen, and he is an alumnus of both Colgate University and Yale Law.

Paul Desmarais Jr., co-chairman of Power Financial (which owns Putnam's parent, Great-West Lifeco), "had served on Merrill's international advisory council during Mr. FLeming's run as the firm's co-president", the WSJ notes. 

Edited by: Neil Anderson, Managing Editor


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