Deals & People June 30, 2009

Haldeman to Leave Putnam Posts

Charles E. “Ed″ Haldeman, Jr., will step down from his positions as chairman of Putnam Investment Management, LLC, president of the Putnam Funds, and member of the Board of Trustees of the Putnam Funds.
Reported by

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.

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“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.

Products June 30, 2009

Trade Organization Publishes LTC Guide for Women

A new booklet for insurance and financial professionals about long-term care (LTC) insurance addresses the issues and options facing women.
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The “Woman’s Guide To Long-Term Care Insurance Protection” was published by the American Association for Long-Term Care Insurance, according to a news release.

Two-thirds of all long-term care insurance benefits result from care needs by women, noted Jesse Slome, executive director of the organization, in the release. “Women also tend to be the ones who initiate the long-term care planning discussion and often are the decision maker when it comes to purchasing long-term care insurance.”

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The guide addresses important planning considerations for women who have spouses or partners, as well as women who live alone, the organization said.

The guide can be viewed and purchased here

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