Fidelity Alum Train Continues Chugging Over to Putnam

December 2, 2008 ( - Putnam Investments President and CEO Robert L. Reynolds is continuing to bring in a series of former Fidelity Investments executives as part of a Putnam restructuring.

A Putnam news release said the latest Fidelity alums appointed to senior Putnam posts included Clare Richer and Andra Bolotin, who are joining the firm as Senior Managing Director and Chief Financial Officer, and Managing Director and Controller, respectively.

According to the Putnam announcement, Richer brings more than 25 years experience, where her previous work has included Chief Financial Officer from 2005 to 2007. Most recently, she served as Executive Vice President of Fidelity Management & Research Company.

Bolotin, who will report to Richer, was most recently Senior Vice President and CFO, Developing Business Group and CFO of Fidelity HR Services. Previously, she rose through a series of executive roles with Polaroid Corporation to become that company’s Treasurer.

“We are very pleased to add such experienced, top-quality leaders to our management group at Putnam,” said Reynolds. “I have known and worked with Clare and Andra for many years. Individually, and as a team, they bring us exceptional analytic and strategic skills.”

Earlier this month, Putnam, himself a Fidelity alum, recruited Jeffrey R. Carney, previously President of Bank of America’s Retirement and Global Wealth and Investment Client Solutions Group, to head its global marketing and product development (see Fidelity Alum Carney Joins Reynolds at Putnam ).

Recently, Reynolds announced a major restructuring of the company’s equity investment unit (see Putnam Announces Equity Restructuring ), a focus on individual fund manager accountability and a performance-linked compensation plan.