Putnam plucks top execs from Fidelity

Two former executives from Fidelity Investments jumped shipped to join Putnam Investments in an continuing effort by Robert L. “Bob” Reynolds, president and chief executive of Putnam, himself a former Fidelity executive, to strengthen Putnam’s top management.
Clare Richer and Andra Bolotin are joining the firm as senior managing director and chief financial officer, and managing director and controller, respectively, Boston-based Putnam announced today.
Ms. Richer brings more than 25 years’ experience at Boston-based Fidelity, where she held a series of positions, including chief financial officer, from 2005 to 2007.
Most recently, she served as executive vice president of Fidelity Management and Research Co.
Ms. Bolotin, who will report to Ms. Richer, was most recently senior vice president and CFO of Fidelity’s developing-business group and CFO of Fidelity Human Resources.
It’s no accident that Ms. Richer and Ms. Bolton come from Fidelity.
“Anytime you have a new senior leader in place like Mr. Reynolds, he will bring in people he’s familiar and comfortable with,” said Howard Schneider, president of Practical Perspectives, an industry consulting firm in Boxford, Mass.
Mr. Reynolds joined Putnam in June after a long career at Fidelity that started in 1984.
His last position at Fidelity was as vice chairman and chief operating officer of Fidelity Investments.