Putnam names portfolio managers

Putnam Investments of Boston yesterday named Gerald Sullivan as managing director and senior portfolio manager, and Rob Brookby as senior vice president and portfolio manager of the firm’s U.S. Large Cap Equity group. Both had previously been with American Century Investments of Kansas City, where they managed the American Century Fundamental Equity fund (AFDAX).
Richard Cervone, who has been a portfolio member of U.S. Core Equity, will be leaving Putnam.
Mr. Sullivan and Mr. Brookby will be responsible for Putnam Investors fund (PINVX), Putnam Tax Smart Equity fund (PATSX), and Putnam Capital Appreciation fund (PCAPX).
Mr. Sullivan, who will join Putnam later this month, helped manage the American Century Fundamental Equity portfolio. Before joining the company in 2000, he was a portfolio manager for Franklin Templeton Investments, a subsidiary of Franklin Resources Inc. of San Mateo, Calif.
Mr. Brookby, who will join Putnam in September, also helped managed the American Century Fundamental Equity portfolio after joining the firm in 2002.
Prior to that, he was an analyst for the American Century Giftrust, Heritage and Vista portfolios. Previously, Mr. Brookby was an equity research analyst at Raymond James Financial of St. Petersburg, Fla.
Putnam had $175 billion in assets under management as of May 31.
Today, Putnam named Robert L. Reynolds, a former vice chairman and chief operating officer at Fidelity, to the post of president and chief executive officer.