Putnam Continues Efforts to Strengthen Investment Team

October 21, 2008 (PLANSPONSOR.com) - Putnam Investments announced Nick C. Thakore and Robert D. Ewing will join the firm as Managing Directors and Portfolio Managers of Putnam's Large Cap Equities Team.

In addition to their roles as large cap equity team leaders, Thakore becomes Portfolio Manager for the Putnam Voyager Fund, while Ewing becomes Portfolio Manager for the Putnam Fund for Growth and Income, according to the announcement. The two join Putnam from RiverSource Investments, where they developed an approach to research and managed several of RiverSource’s large-cap equity funds.

Prior to joining RiverSource in April 2002, both Thakore and Ewing had strong records of investment achievement at Fidelity Investments.

The industry veterans will start at Putnam on November 3.

The company said Eric Harthun, who had been Portfolio Leader for the Putnam Fund for Growth and Income, will return to his core expertise managing the Putnam Small Cap Value Fund, led by Edward T. Shadek. Putnam’s Global Asset Allocation team, led by Jeff Knight, which had managed the Putnam Voyager Fund (See Putnam Announces Fund Manager Shifts ), will now re-focus on Putnam’s suite of asset allocation funds.

In the past few months, Putnam has bolstered its investment team through the hires of Gerard Sullivan and Robert Brookby, from American Century, and David Calabro, formerly of MFS. Putnam has also hired seven experienced senior research analysts and plans to add several more by year’s end.

Earlier this month, Putnam also announced the hiring of Jeffrey R. Carney to head its global marketing and product development (See Fidelity Alum Carney Joins Reynolds at Putnam ).