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Executive Moves

Keefe, Finucane Return To John Hancock Funds

John Hancock Funds has hired Timothy Keefe as chief equity officer and Thomas Finucane as a portfolio manager.

For both men, the new positions represent a second go-around with the Manulife Financial subsidiary, where Keefe worked as a value fund manager from 1996 to 2000 and Finucane served on the firm's investment team from 1990 to 2002.

Keefe most recently ran a hedge fund at Thomas Weisel Partners. During his prior tenure with the Hancock Funds, he helped manage several large- and small-cap value funds with aggregate assets under management of more than $1 billion. He was also a member of Hancock's investment policy committee.

Before rejoining the Hancock Funds, Finucane covered the financial service sector for State Street Research. He returns to the financial institutions investment management team, which is currently headed up by Executive Vice President Jim Schmidt. Finucane will now co-manage, along with Schmidt and vice president Lisa Welch, more than $5 billion of assets in privately managed accounts and both closed- and open-ended mutual funds.

Prior to his first term at John Hancock, Finucane had worked at The Federal Reserve Bank of Boston as a bank examiner and State Street Bank as a fund accountant.

Putnam Hires Phillips as Head of Govt. Relations

Putnam Investments has hired Deirdre Phillips as vice president and director of government relations, a new position at the firm. In this role, Phillips will work closely with parent company Marsh & McLennan and be responsible for cultivating and maintaining relationships with public officials and communicating the company's position on legislative and regulatory matters with key audiences.

Phillips previously worked as director of federal government relations at FleetBoston Financial since 1999 and was BankBoston's representative to government officials in various capacities dating back to 1984. Phillips began her career at the Congressional Budget Office.

"In Deedee, we have found a strong, experienced government relations professional who can help Putnam set priorities and develop relationships with key people at the national, state and local levels," said Putnam CEO Ed Haldeman in a statement.

Independent Financial Taps Novak as Operations Chief

JoAnne K. Novak, who has worked at the Sun Life subsidiary Independent Financial Marketing Group since its merger with Liberty Financial Group, has been promoted to chief operating officer. In her new position, Novak will head up the firm's insurance agency, broker/dealer, administrative services and training and information technology.

Novak joined Liberty in 1991 and became vice president of human resources, recruitment and training when the company merged with Independent in 1996. By 2000, she was also overseeing the company's insurance and administrative areas under the title of senior vice president and chief administrative officer. In 2002, marketing also came under her realm.

"JoAnne's depth of knowledge of our business makes her the ideal candidate to take on this important leadership role for our company," said Independent Financial President Robert L. Spadafora. "She will lead the enactment of our firm's strategic plan for continued improvement in the operating services delivered to our financial institution clients."