The Wall Street Journal reported that the president of equities at Fidelity Investments, Walter Donovan, has left the firm to become the Chief Investment Officer of Putnam Investments.
Earlier this year, Putnam hired David Glancy as a Managing Director and Portfolio Manager from Andover Capital, where he was a partner and portfolio manager. Prior to co-founding Andover, Mr. Glancy was a portfolio manager at Fidelity. In his role, according to a press release, Mr. Glancy partners with the firm’s “research teams to identify opportunities across the entire capital structure, focusing on equities while also including high-yield and bank debt. Glancy has special expertise in assessing undervalued, leveraged companies, which are companies that issue lower-quality debt or that otherwise have leveraged capital structures.”
In February, the firm also announced that it hired the four analysts to strengthen its research team. The new team members included “insurance analyst Shobha Frey, who joined Putnam from Boston-based K Capital Partners, is a boutique investment manager specializing in European special situations, and has over 16 years of investment industry experience. From 1998 to 2008, Ms. Frey was one of four portfolio managers responsible for the international equity portfolio of Harvard University's $20 billion endowment. Twelve-year industry veteran Lucas Klein, who covers consumer staples, joins Putnam from RiverSource Investments, where he served as a senior research analyst. George Gianarikas, previously with Wellington Management, covers technology and telecom for the Large-Cap Equity research team. Vinay Shah joins Putnam's U.S. Large-Cap Equity Research team and covers the consumer sectors. He has 11 years of experience at both Morgan Stanley and Fidelity.” |
