April 20, 2009
Putnam Names Donovan Chief Investment Officer
Putnam has hired yet another executive from Fidelity, Walter C. Donovan, who will serve as chief investment officer. A 25-year veteran of financial services, he was president of Fidelity's equity division, overseeing portfolio management, investment research and trading.
"In Walter Donovan, we are bringing aboard an investment chief of extraordinary talent and experience, who will take the lead in driving continued improvement in investment results for Putnam's clients and shareholders," said Robert L. Reynolds, president and chief executive officer of Putnam. "Given the challenges and opportunities provided by today's market environment, we sought, and now have, a distinguished industry veteran to lead our investment team as we create a performance-driven culture for a new era at Putnam."
Donovan joined Fidelity in 1995 as director and head trader of taxable fixed income. He has held a number of key positions with Fidelity, including executive vice president and head of equity research. He also worked as a director on the corporate debt trading desk at Merrill Lynch Capital Markets and began his career as a municipal bond trader and underwriter for Salomon Brothers.
PIMCO Promotes 78 Execs
PIMCO has promoted 78 of its executives, with 12 now executive vice president, 24 senior vice president and 42 vice president.
The new executive vice presidents include: Philippe Bodereau, lead analyst for U.S. and European financial institutions; Chief Compliance Officer Jennifer Durham; Account Manager Joe Fournier; Information Technology Manager Yanay Lehavi; Account Manager Eric J. Mogelof; Robert Morena, head of institutional development business in New York; Portfolio Manager Alfred Murata; Technology Senior Manager Ric Okun; Legal Associate Arthur Ong; Emerging Market Analyst Guillermo Osses; Luke Drago Spajic, head of pan-European credit and asset-backed securities portfolio management; and Frank Witt, head of business development for Germany and Austria.
OppenheimerFunds Names Three to Retirement Group
OppenheimerFunds has promoted Kathleen Beichert from senior vice president of retirement solutions to director of retirement. Additionally, Paul Temple and Clint Modler, both VPs and directors of retirement distribution, are now co-heads of retail retirement sales.
Under this new structure, Beichert will oversee all of OppenheimerFunds' retail retirement products, reporting to Richard Knott, president of OppenheimerFunds Distributors.
"Investors continue to face new demands and challenges in saving for retirement, and we remain committed to helping investors produce sustainable income in retirement," Knott said.
Politzer Now President Of Spectrem Consulting
Mitchell Politzer is joining Spectrem Group as managing director and president of its consulting division.
Politzer has 25 years of experience and comes to the firm from First Ameritas Life Insurance, where he was president and CEO, as well as CEO of Ameritas Direct. He was also chairman of the Life Insurance Council of New York in 2007.
George H. Walper, Jr., president and CEO of Spectrem Group, commented: "We are excited to have Mitch join us at this unique time. Financial institutions today are struggling to determine how to compete by identifying new products, services and distribution channels to investors in a totally unprecedented economic environment."
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