Putnam Hires Two for Defined Contribution Sales

May 4, 2011 (PLANSPONSOR.com) - Putnam Investments has hired two industry veterans for senior positions in defined contribution sales and client relations.

Michael R. Shamon will be responsible for Putnam’s internal defined-contribution sales team, working with advisers and consultants nationally to support the sales of Putnam’s full-service and investment-only retirement businesses. Daniel E. McDermott will serve as relationship manager, focused on mid- to large-sized retirement plans.  

According to a news release, Shamon, who will report to National Sales Manager Jim Brockelman, joins Putnam from JPMorgan Asset Management in Boston, where he was Vice President, Client Advisor, in the firm’s Retirement Plan Services division.   

McDermott joins Putnam from Prudential Retirement in Hartford, Connecticut, where he was Vice President, Relationship Management, responsible for managing relationships for some of the firm’s largest clients.  McDermott will report to Michael MacWade, Director of Defined Contribution Relationship Management.   

Before joining JPMorgan, Shamon held several positions of increasing responsibility over a nine-year period with Putnam Investments/Mercer HR Services.  Earlier, he served as a Pension and TDA Coordinator for Harvard University and began his career as a defined-contribution plan administrator for NYL Benefit Services Company.    

Shamon holds a Bachelor of Arts degree in History from the Massachusetts College of liberal arts and an MBA degree from Nichols College. He also is a member of the Investment Management Consultants Association.   

Prior to his time at Prudential, McDermott held several positions of growing responsibility in a 14-year career with Putnam’s defined-contribution unit, including serving as Vice President and Regional 401(k) Sales Director for the Midwest Region. McDermott received a Bachelor of Science degree in Business Administration from Plymouth State University.