Robert L. Reynolds
President and Chief Executive Officer
Mr. Reynolds has more than 30 years of investment and financial services experience and is a member of Putnam Investments' Executive Board of Directors. In addition to his roles at Putnam, he is Chair of Great-West Lifeco U.S. and is regarded as a driving force of innovation and progress in institutional and retail financial services.
Andra S. Bolotin
Chief Financial Officer
Ms. Bolotin provides financial oversight, accounting, reporting, analysis, and planning across Putnam's lines of business and brands operating under Great-West Financial. Ms. Bolotin joined Putnam in 2008 and has 20 years of executive leadership experience.
Aaron M. Cooper, CFA
Executive Vice President and Chief Operating Officer
Mr. Cooper is responsible for setting strategic direction and driving execution across the firm. He oversees Putnam's Investments, Operations, Digital Technology, and Global Investment Strategies groups. Mr. Cooper is also a member of Putnam's Operating Committee. He joined Putnam in 2011 and has been in the investment industry since 2000.
Stephen R. Denny
Chief Diversity Officer, Head of Human Resources
Mr. Denny focuses on integrating diversity into every aspect of the business to improve company policies, employment value propositions, corporate reputation, products, and the overall customer and stakeholder experience. In addition, he is a member of Putnam's Operating Committee. Mr. Denny has been in the investment industry since he joined Putnam in 1994.
Carlo N. Forcione
Head of Product and Strategy
Mr. Forcione is responsible for all aspects of Putnam's product shelf, including strategy, development, pricing, and execution for the firm's retail, institutional, and retirement distribution channels. He has been in the investment industry since he joined Putnam in 2007.
Brett S. Goldstein, CFA
Co-Chief Investment Officer, Global Asset Allocation
Mr. Goldstein oversees the strategy and positioning of Putnam's GAA products, including research, security selection, portfolio construction, and risk management. In addition, he is a portfolio manager of Putnam's target-date, traditional asset allocation, multi-asset income, and total return strategies. Mr. Goldstein has been in the investment industry since he joined Putnam in 2010.
Jonathan M. Goldstein
Head of Corporate Communications
Mr. Goldstein oversees corporate communications strategy and public relations initiatives, directs media and community relations activities, and serves as Putnam's lead spokesperson. He joined Putnam in 2009 and has been practicing financial communications and public relations since 1990.
Brian D. Lenhardt
Chief Operating Officer, Investment Division
Mr. Lenhardt leads investment, strategic, and operational initiatives for Putnam's Investment Division. In addition, he oversees the Risk and Quantitative Equities groups. He joined Putnam in 2001 and has been in the investment industry since 1996.
Steven P. McKay
Head of Global DCIO and Institutional Management
Mr. McKay oversees Putnam's Defined Contribution Investment-Only (DCIO) business, including relationship management, business development, national distribution, and the largest DC recordkeepers and platforms. In addition, he leads Putnam's institutional asset management business. Mr. McKay first served at Putnam from 2012 to 2014 and rejoined the firm in 2016. He has over 25 years of investment industry experience.
Mark J. McKenna
Head of Marketing
Mr. McKenna is Head of Marketing for Putnam's retail and institutional businesses. He provides strategic direction and oversight of the firm's marketing, internet, e-commerce, advertising, mobile, and social media initiatives. Mr. McKenna joined Putnam in 1994, bringing an extensive background in marketing for Fortune 500 companies.
Sumedh Mehta
Chief Information Officer
Mr. Mehta is responsible for the overall strategic direction and execution of Putnam's global technology solutions. He joined Putnam in 2015 and has over 20 years of experience managing information technology systems in the investment industry.
Brendan T. Murray
Head of Global Investment Strategies
Mr. Murray oversees the equity, fixed income, and global asset allocation product teams, and investment strategy content management for Putnam's retail, institutional, and retirement businesses. He has been in the investment industry since he joined Putnam in 2002.
Shep Perkins, CFA
Chief Investment Officer, Equities
Mr. Perkins leads Putnam's Equities group, including the portfolio management, research, and trading areas. In addition, he is a member of Putnam's Operating Committee and the ESG Leadership Committee. Mr. Perkins joined Putnam in 2011 and has been in the investment industry since 1993.
Michael V. Salm
Chief Investment Officer, Fixed Income
Mr. Salm directs the overall strategy and positioning of Putnam's fixed income products. He is also a portfolio manager of Putnam's Core, Core Global, Core Plus, Dedicated Mortgage, Fixed Income Global Alpha, Global Government, and Ultra Short Duration Income strategies, in addition to 37 Capital's Structured Credit strategies. Mr. Salm joined Putnam in 1997 and has been in the investment industry since 1989.
Catherine A. Saunders
Head of Corporate Sustainability and Public Policy
Ms. Saunders advocates for all Putnam stakeholders and leads corporate initiatives on ESG issues and public policy. She is a frequent speaker on leadership, women and wealth, diversity and inclusion, and client experience. Ms. Saunders began her investment career with Putnam in 1987, and has an extensive retail and institutional background.
Robert J. Schoen
Co-Chief Investment Officer, Global Asset Allocation
Mr. Schoen oversees the strategy and positioning of all GAA products, including research, security selection, portfolio construction, and risk management. In addition, he is a portfolio manager of Putnam's target-date, traditional asset allocation, multi-asset income, and total return strategies. Mr. Schoen joined Putnam in 1997 and has over 30 years of investment industry experience.
Scott C. Sipple
Head of Global Retail Management
Mr. Sipple oversees Putnam's retail fund distribution business, including Regional Consulting, Relationship Management, Business Development, and the Client Engagement Center. Mr. Sipple is also a member of Putnam's Operating Committee. He first served at Putnam from 2009 to 2017 and rejoined the firm in 2020. Mr. Sipple has over 30 years of investment experience.
Stephen J. Tate
General Counsel and Chief Legal Officer
Mr. Tate is responsible for overseeing legal and compliance matters related to Putnam, Putnam's mutual funds, and other Putnam products and services. In addition, Mr. Tate is a member of Putnam's Operating Committee and the ESG Leadership Committee. Mr. Tate has been in the investment industry since he joined Putnam in 2004.
Jackie S. VanderBrug
Head of Sustainability Strategy
Ms. VanderBrug leads Putnam's ESG-focused business functions, including Stewardship, Engagement, Partnerships, and ESG Strategy and Integration. She is Chair of the ESG Leadership Committee and a member of Putnam's Operating Committee. Ms. VanderBrug joined Putnam in 2022 and has been in the investment industry since 2004.
Edward F. Whalen
Chief Human Resources Officer
Mr. Whalen oversees the firm's Human Resources, General Services, and Conference Planning and Travel departments. He also directs the strategy and implementation of corporate-wide human resource initiatives. He joined Putnam in 1990 and has over 30 years of management experience.
Michael J. Woodall
Chief of Operations
Mr. Woodall is responsible for Putnam's Mutual Fund Shareholder Services, Accounting, Middle Office and Control Services, and Investment Operations. He is also an officer and executive committee member of the Putnam Fiduciary Trust Company. He joined Putnam in 1993 and has been in the investment industry since 1983.
The independent Board of Trustees of the Putnam funds is responsible for the general oversight of each fund's business and for helping to protect the interests of shareholders.
Trustees and fund performance
The Trustees periodically review each fund's investment performance and the quality of other services such as administration, custody, and investor services.
Trustees and fees and expenses
At least annually, the Trustees review the fees paid to Putnam Management and its affiliates for these services and the overall level of each fund's operating expenses.
Trustee administration
In carrying out their responsibilities, the Trustees are assisted by an independent administrative staff and by auditors and legal counsel, which are selected by the Trustees and are independent of Putnam Management and its affiliates.
Liaquat Ahamed
Born 1952
Trustee since 2012
Principal occupations during past five years:
Author; won Pulitzer Prize for Lords of Finance: The Bankers Who Broke the World.
Other directorships:
Chairman of the Sun Valley Writers Conference, a literary not-for-profit organization; and a Trustee of the Journal of Philosophy.
Barbara M. Baumann
Born 1955
Vice Chair since 2022
Trustee since 2010
Principal occupations during past five years:
President of Cross Creek Energy Corporation, a strategic consultant to domestic energy firms and direct investor in energy projects.
Other directorships:
Director of Devon Energy Corporation, a publicly traded independent natural gas and oil exploration and production company; Director of National Fuel Gas Company, a publicly traded energy company that engages in the production, gathering, transportation, distribution, and marketing of natural gas; Senior Advisor to the energy private equity firm First Reserve; Member of the Finance Committee of the Children's Hospital of Colorado; Member of the Investment Committee of the Board of The Denver Foundation; and previously a Director of publicly traded companies Buckeye Partners LP, UNS Energy Corporation, CVR Energy Company, and SM Energy Corporation.
Catharine Bond Hill
Born 1954
Trustee since 2017
Principal occupations during past five years:
Managing Director of Ithaka S+R (a not-for-profit service that helps the academic community navigate economic and technological change). From 2006 to 2016, the 10th president of Vassar College.
Other directorships:
Director of Yale-NUS College and Trustee of Yale University.
Katinka Domotorffy
Born 1975
Trustee since 2012
Principal occupations during past five years:
Voting member of the Investment Committees of the Anne Ray Foundation and Margaret A. Cargill Foundation, part of the Margaret A. Cargill Philanthropies.
Other directorships:
Director of the Great Lakes Science Center and of College Now Greater Cleveland.
Kenneth R. Leibler
Born 1949
Trustee since 2006, Vice Chair from 2016 to 2018, and Chair since 2018
Principal occupations during past five years:
Vice Chairman Emeritus of the Board of Trustees of Beth Israel Deaconess Hospital in Boston. Member of the Investment Committee of the Boston Arts Academy Foundation.
Other directorships:
Director of Eversource Corporation, which operates New England's largest energy delivery system; previously the Chairman of the Boston Options Exchange, an electronic marketplace for the trading of listed derivatives securities; previously the Chairman and Chief Executive Officer of the Boston Stock Exchange; and previously the President and Chief Operating Officer of the American Stock Exchange.
Jennifer Williams Murphy
Born 1964
Trustee since 2022
Principal occupations during past five years:
Chief Executive Officer and Founder of Runa Digital Assets, LLC, an institutional investment advisory firm specializing in active management of digital assets. Until 2021, Chief Operating Officer of Western Asset Management, LLC, a global investment adviser, and Chief Executive Officer and President of Western Asset Mortgage Capital Corporation, a mortgage finance real estate investment trust.
Other directorships:
Previously, a Director of Western Asset Mortgage Capital Corporation.
Marie Pillai
Born 1954
Trustee since 2022
Principal occupations during past five years:
Senior Advisor, Hunter Street Partners, LP, an asset-oriented private investment firm; Specialty Leader and Member of the Curriculum Committee of the Center for Board Certified Fiduciaries, a public benefit corporation providing coursework for developing fiduciaries. Until 2019, Vice President, Chief Investment Officer, and Treasurer of General Mills, Inc., a global food company.
Other directorships:
Member of the Investment Committee of the Bush Foundation, a nonprofit organization supporting community problem-solving in Minnesota, North Dakota, and South Dakota; Member of the Finance Council and Corporate Board of the Archdiocese of Saint Paul and Minneapolis; Director of Choice Bank, a private community bank based in North Dakota; and previously a Board Member of Catholic Charities of St. Paul and Minneapolis; former Director of the Catholic Community Foundation of Minnesota; and former Investment Advisory Board Member of the University of Minnesota.
George Putnam III
Born 1951
Trustee since 1984
Principal occupations during past five years:
Chairman of New Generation Research, Inc., a publisher of financial advisory and other research services, and President of New Generation Advisors, LLC, a registered investment adviser to private funds.
Other directorships:
Director of The Boston Family Office, LLC, a registered investment advisor; a Director of the Gloucester Marine Genomics Institute; a Trustee of the Lowell Observatory Foundation; and previously a Trustee of the Marine Biological Laboratory.
Manoj Singh
Born 1952
Trustee since 2017
Principal occupations during past five years:
Until 2015, Chief Operating Officer and Global Managing Director at Deloitte Touche Tohmatsu, Ltd., a global professional services organization, serving on the Deloitte U.S. Board of Directors and the boards of Deloitte member firms in China, Mexico, and Southeast Asia.
Other directorships:
Director of ReNew Energy Global Plc, a publicly traded renewable energy company; Director of Abt Associates, a global research firm working in the fields of health, social and environmental policy, and international development; Trustee of Carnegie Mellon University; Director of Pratham USA, an organization dedicated to children's education in India; member of the Advisory Board of Altimetrik, a business transformation and technology solutions firm; and Director of DXC Technology, a global IT services and consulting company.
Mona K. Sutphen
Born 1967
Trustee since 2020
Principal occupations during past five years:
Partner, Investment Strategies, at The Vistria Group, a private investment firm focused on middle-market companies in the health care, education, and financial services industries. From 2014 to 2018, Partner at Macro Advisory Partners, a global consulting firm.
Other directorships:
Director of Spotify Technology S.A., a publicly traded audio content streaming service; Director of Unitek Learning, a private nursing and medical services education provider in the United States; Board Member, International Rescue Committee; Co-Chair of the Board of Human Rights First; Trustee of Mount Holyoke College; Member of the Advisory Board for the Center on Global Energy Policy at Columbia University's School of International and Public Affairs; previously Director of Pattern Energy and Pioneer Natural Resources, publicly traded energy companies; and previously Managing Director of UBS AG.
Robert L. Reynolds
Born 1952
Trustee since 2008 and President and Chief Executive Officer of Putnam Investments since 2008
Principal occupations during past five years:
President and Chief Executive Officer of Putnam Investments; member of Putnam Investments' Board of Directors; and Chair of Great-West Lifeco U.S. LLC. Prior to 2019, also President and Chief Executive Officer of Great-West Financial, a financial services company that provides retirement savings plans, life insurance, and annuity and executive benefits products, and of Great-West Lifeco U.S. LLC, a holding company that owns Putnam Investments and Great-West Financial, and a member of Great-West Financial's Board of Directors.
Other directorships:
Director of the Concord Museum; Director of Dana-Farber Cancer Institute; Director of the U.S. Ski & Snowboard Foundation; Chair of the Boston Advisory Board of the American Ireland Fund; Council Co-Chair of the American Enterprise Institute; Member of U.S. Chamber of Commerce, Center for Capital Markets Competitiveness; Chair of Massachusetts High Technology Council; Member of the Chief Executives Club of Boston; Member of the Massachusetts General Hospital President's Council; Chairman of the Board of Directors of the Ron Burton Training Village; Director and former Chair of the Massachusetts Competitive Partnership; former Chair of the West Virginia University Foundation; and former Executive Committee Member of Greater Boston Chamber of Commerce.
