Great-West Lifeco has announced that the board of directors of its US subsidiary Putnam Investments has named Robert Reynolds as president and CEO of Putnam Investments.

Charles Haldeman, currently president and CEO of Putnam Investments has been named as chairman of Putnam Investment Management. Both appointments are effective July 1, 2008.

Mr Reynolds was vice chairman and CEO of Fidelity Investments from 2000 to 2007. From 1996 to 2000, he was president of Fidelity Investments Institutional Retirement Group. Previously Mr Reynolds held various senior management roles within the Fidelity Investments organization, beginning in 1984.

Jeffrey Orr, chairman of the board of directors of Putnam Investments, said: Bob brings substantial industry experience, energy, and a fresh perspective to Putnam’s leadership team. Along with Kevin Cronin, Putnam’s head of investments, and Bill Connolly, Putnam’s head of global distribution, we have a very strong management team to move Putnam forward.