Putnam Names Fidelity Alum as DC Business Leader

Putnam Investments has named Edmund F. Murphy III, a 25-year industry veteran, as managing director and head of Defined Contribution.

In his new role, Murphy will drive Putnam Investments’ defined contribution retirement plan business, reporting directly to Head of Global Marketing and Products Jeffrey R. Carney, according to a press release (see “Fidelity Alum Carney Joins Reynolds at Putnam).

Most recently, Murphy served as executive vice president of distribution for Personal and Workplace Investing (PWI) at Fidelity Investments. From 2003 to 2007, Murphy was executive vice president of Fidelity Institutional Retirement Services Company with responsibility for its Emerging Corporate Market (ECM) business.

Murphy previously served as managing director of Fidelity Capital, Fidelity Investments’ private equity and new business development arm, and also served as president and CEO of Veritude, LLC, a contingent staffing firm owned by Fidelity.

Murphy began his career with Merrill Lynch.