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 expertise in assessing undervalued, leveraged companies.
Glancy joined the company from Andover Capital, where he was a founding partner and portfolio manager. Prior to joining Andover Capital, Glancy was a 13-year veteran of Fidelity Investments, joining in 1990 as an analyst and leaving the firm near the end of 2003. Throughout his tenure, he was the only portfolio manager to manage both equity and debt funds, the news release said.
“I am excited to welcome another outstanding investor to the team,” said Putnam President and CEO Robert L. Reynolds, in the releasse. “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.’
See also: “Putnam Announces Equity Restructuring.’