Putnam Investment Management Company (F.L. Putnam) has hired R. Thomas Manning as new chief executive officer and president replacing John Carberry, who is set to retire from his role after a spell of 15 years with the firm.
Additionally, Carberry will continue with the firm in an advisory role in 2016, the company said in a statement.
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Manning joined Putnam from Boston Private Wealth, where he worked as chief investment officer and a member of the executive committee.
Manning, who has over 25 years of experience, previously worked as CEO and CIO at Silver Bridge Advisors.
Prior to that, he also served as managing director of portfolio advisory services for Bank of America.
"I am honored to have the opportunity to join this extremely talented team of investment and financial services professionals and to lead the firm into its next stage of growth," said Manning.
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By GlobalDataF.L. Putnam Securities Company, the parent company of F.L. Putnam, president David Putnam said: "We look forward to continuing our growth under the guidance of Tom Manning, a proven leader, who has successfully served in many senior roles throughout the investment industry."
F.L. Putnam COO Ellen Flaherty said: "We are excited to move ahead with a number of key firm initiatives including a Financial Planning practice and a New Technology Platform, which will better educate our clients on the various facets of their financial landscape."
