|
|
Article: PUTNAM SHAKES UP BOND UNIT, DISMISSES 8 PUTNAM SHAKES UP FIXED-INCOME DIVISION, DISMISSES 8
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- March 31, 1998
- Author:
CopyrightCopyright 1998 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
|
Putnam Investments dismissed eight professionals in its
fixed-income division yesterday in a bold step to reshape the bond
group that is central to its investment operations.
The Boston mutual fund company, the nation's fifth-largest
asset manager, said the shake-up -- unusual for the number of
people affected -- was part of a wider restructuring effort aimed
at later adding more funds invested in a variety of bonds.
"We believe strongly that to be a successful complex of our
size, it is absolutely crucial that we have a strong and broadly
based fixed-income group," said Tim Ferguson, a senior managing
director and Putnam's head of investments.
Under yesterday's shake-up, Putnam's new, ...