A Putnam news release said the moves by Haldeman are effective Tuesday.
Robert L. Reynolds, president and chief executive officer of Putnam Investments and a trustee of the Putnam Funds, will replace Haldeman as president of the Putnam Funds, the company said. The position of Chairman of Putnam Investment Management, LLC will not be replaced.
“Ed Haldeman joined Putnam Investments during some very challenging times, and his steady leadership helped to keep the company on course,” said Reynolds, in the news release.
Haldeman was named chairman of Putnam Investment Management, LLC, the investment adviser for the Putnam Funds, in July 2008. Before that, he was president and chief executive officer of Putnam Investments, a position he assumed in November 2003.
“When we agreed to sell Putnam to Power Financial Corporation in January 2007, I committed to stay at Putnam until June 30, 2008,” said Haldeman, in the announcement. “This is a good time for me to advance to the next stage of my career.”
Before joining Putnam Investments in 2002, Haldeman served as chief executive officer of Delaware Investments, and earlier as president and chief operating officer of United Asset Management.
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