More Fidelity Execs Land at Putnam

Putnam Investments President and CEO Robert Reynolds continues to bring in former Fidelity Investments executives.

A Putnam news release said the latest Fidelity alums appointed to senior Putnam posts included Clare Richer and Andra Bolotin, who are joining the firm as senior managing director and CFO, and managing director and controller, respectively.

According to the Putnam release, Richer brings more than 25 years experience. Her jobs have included serving as CFO of Fidelity Investments from 2005 to 2007. Most recently, she served as executive vice president of Fidelity Management & Research Company.

Bolotin, who will report to Richer, was most recently senior vice president and CFO, Developing Business Group, and CFO of Fidelity HR Services. Previously, she rose through a series of executive roles with Polaroid Corporation to become that company’s treasurer.

“We are very pleased to add such experienced, top-quality leaders to our management group at Putnam,’ said Reynolds. “I have known and worked with Clare and Andra for many years. Individually, and as a team, they bring us exceptional analytic and strategic skills.’

The new hires continue Reynolds’ efforts to strengthen Putnam’s top management and the results produced by its investment unit. Earlier this month, Putnam recruited Jeffrey Carney, previously president of Bank of America’s Retirement and Global Wealth and Investment Client Solutions Group, to head global marketing and product development (see “Fidelity Alum Carney Joins Reynolds at Putnam). Recently, Reynolds announced a major restructuring of the company’s equity investment unit, a renewed focus on individual fund manager accountability, and a performance-linked compensation plan (see “Putnam Announces Equity Restructuring).