Putnam To Focus More on RIAs

Putnam Investments has announced two senior appointments within its Global Distribution team.

According to the announcement, Joseph T. Phoenix has been named head of Global Institutional Management and Catherine A. Saunders has been named head of registered investment adviser (RIA) business, effective immediately. Phoenix and Saunders, who both already held leadership positions at Putnam, will continue to report directly to William T. Connolly, head of Global Distribution.

Phoenix, who has led Putnam’s international institutional efforts, based in London, since April 2006, will continue this responsibility along with the expanded task of managing the firm’s North America institutional business in the newly combined Global Institutional Management role, the announcement said. Saunders, who previously managed Putnam’s North American institutional business since December 2007, has been tapped to build and lead the firm’s sales and distribution efforts with registered investment advisers.

“Institutional asset management—on a global scale—will be a key ongoing area of focus for Putnam and one of the primary pillars of our business,” said Putnam Investments President and Chief Executive Officer Robert L. Reynolds. “We see an enormous opportunity to further expand our offerings to this market through the combination of seeking consistently strong performance; harnessing the output of our uniquely talented, highly experienced fundamental research team; offering ongoing product innovation; and providing a superior level of client service.”

Reynolds also pointed out that Putnam expects to dramatically increase its work with RIAs in the months ahead, as changes in the investment advisory business have greatly added to the size and influence of this intermediary channel.

Prior to joining Putnam, Phoenix worked at Kemper Securities. Before joining Putnam, Saunders worked for Western Union.