A Putnam news release said Glancy will work with its research teams to identify opportunities across the entire capital structure, focusing on equities while also including high-yield and bank debt. Putnam said Glancy has “special expertise” in assessing undervalued, leveraged companies.
Glancy joined the company from Andover Capital, where he was a founding partner and portfolio manager.
“I am excited to welcome another outstanding investor to the team,” said Putnam President and CEO Robert L. Reynolds, in the announcement. “David has built a stellar career delivering superior investment returns in undervalued companies. He brings us exceptional knowledge and expertise at a time of unprecedented market dislocation – and opportunity.”