BOSTON, January 11, 2016 — Putnam Investments today announced that the firm's Boston-based headquarters will be located at 100 Federal Street in the city's financial district, with the move of personnel slated for 2018.
The firm has secured a 15-year lease agreement with Boston Properties for nearly 250,000 square feet of space — equating to 11 floors, along with a highly visible presence in the lobby and on the building's facade. Putnam expects to have approximately 1,000 employees in the new facility after relocation, with flexibility to accommodate expected growth of the firm's employee base in years to come.
"As a firm that takes great pride in its Boston heritage, Putnam Investments is extremely pleased to establish our global headquarters in a building that is a powerful presence on the city's landscape, symbolizing the strength of the region's financial services industry," said Robert L. Reynolds, President and Chief Executive Officer, Putnam Investments.
Reynolds explained that it was a top priority to maintain and strengthen the firm's nearly 80-year roots in Boston, which has long been considered a premier international city and a world-renowned center of education — with an extraordinarily deep talent pool, a thriving financial hub and a well-recognized quality of life.
"Our corporate headquarters has always been a reflection of our identity, sense of purpose and commitment to excellence, as we do our best each day to serve clients and deliver strong investment performance," indicated Reynolds. "The 100 Federal Street location offers the ideal mix of modern, high-quality facilities in the heart of Boston's financial district, with flexibility of space that will allow our firm to grow its onsite presence — as our business grows — over time."
Putnam will be making the move to 100 Federal Street from its current headquarters, located at One Post Office Square, where the firm has been based since 1978. Presently, the firm leases over 240,000 square feet at the facility.
In addition to its downtown Boston location, Putnam maintains a sizable office north of the city in Andover, Massachusetts, which houses a number of key operations and functions for the firm. Putnam expects to continue to expand its Andover presence in future years.