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Executive Moves

Putnam Shakes Up Team On Voyager, Growth Funds

Putnam Investments has made investment management changes on its Putnam Voyager Fund and Putnam Growth Opportunities Fund.

Kelly A. Morgan, who has been team leader and portfolio manager of the core growth equity team and the director of global equity research, is to be chief investment officer of large-cap growth and co-leader of the portfolio management team for these funds. Robert E. Ginsberg, a portfolio manager in the core growth equity team, is to join Morgan as a co-leader of the funds. They are to retain their respective responsibilities in core equity and research.

The two succeed Brian A. O'Toole, portfolio leader of the Voyager fund and Growth Opportunities fund, who is leaving Putnam. Also leaving is David Santos, a portfolio team member who worked with O'Toole on both funds.

Morgan joined Putnam in 1996 and has 19 years of investment industry experience. Ginsberg joined last year from Delaware Investments, where he had been a portfolio manager and senior equity analyst for seven years. (Putnam CEO Ed Haldeman was hired from Delaware Investments, where he was the chief executive, in 2002.)

Robeco Investments Makes Heffernan Managing Dir.

Paul P. Heffernan, Jr. is the new managing director of Robeco Investment Management's sales team. He reports to William Supple and is responsible for accounts located in the Southern U.S.

Heffernan most recently worked as a vice president and Northeast regional manager for Amvescap Retirement. Before that, he worked for 19 years at Putnam Investments, where he served as, among other positions, a senior account manager for Northeast sales.

Lundeen, Andrews to Share Duties at Gartmore Global

Gartmore Global Investments has realigned its mutual fund business, giving dual leadership to Dan Lundeen and Craig Andrews. Under the new arrangement, Lundeen, now senior vice president and national sales manager, will head up the company's wirehouse distribution and separate account business. Andrews, who now becomes senior vice president and chief marketing officer, will manage distribution to independent broker/dealers and the company's agent network. He will also manage internal sales training, the call center and reporting and database management.

Amvescap Promotes CEO Of Invesco to its Board

Amvescap has promoted John D. Rogers, an executive vice president and the chief executive officer of its Invesco division, to its board of directors.

And Michael D. Benson, the company's vice chairman, announced his resignation from the company and its board, to take effect March 31, so that he might pursue non-executive activities. Rogers, 43, has held his current posts since January 2003. He joined the company as the president and chief investment officer of Invesco's Tokyo office in 1994. He became CEO and co-chief investment officer of Invesco Global Asset Management (N.A.) Inc. in 1997 and was named CEO of Invesco Institutional, the company's North American institutional management division, in 2001. Benson, 61, has been vice chairman since February 2001 and a director since 1994. He was CEO of Invesco Global from 1997 until 2002 and CEO of the Asian region from 1994 to 1997. He began his career in the securities industry in 1963 and held senior posts at Lazard Brothers and Standard Chartered Bank.

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