BOSTON, September 8, 2015 — Putnam Investments today announced that Sumedh Mehta has been named Chief Technology Officer, with responsibility for all aspects of the company's worldwide systems infrastructure and application development, as well as technology integration across business lines. In recent years Putnam has deepened its commitment to leading-edge technology as it seeks to further enhance client experience and support its core investments, sales and operations.
"We believe that leveraging evolving technology can be a critical factor in allowing our firm — and industry — to continually elevate how we serve our clients and the quality of offerings that we can provide them," said Putnam President and Chief Executive Officer Robert L. Reynolds. "As we build upon our deep commitment to advance technology, we are pleased to have a highly seasoned professional like Sumedh help lead the charge, bringing vision and creativity to the role and our firm's mission in this area."
Mehta will be based in Boston and report directly to Putnam Chief Financial Officer Clare Richer. He will lead a full range of corporate-wide technology groups, including Software Engineering, Enterprise Computing and Telecommunications and Data. A nearly 25- year information technology leader, Mehta joins Putnam from Fidelity Investments, where he most recently served as Senior Vice President, Fidelity Investment Management Technology.
Prior to joining Putnam, Mehta held a series of senior roles in financial services information technology, with a strong focus on asset management. Most recently, he served as Senior Vice President, Equity, High Income, Select Co., Pyramis and Research Technology for Fidelity Investments, where he developed solutions for portfolio managers, traders and research analysts.
Previously, Mehta served as director of operational effectiveness for Marsh & McLennan Companies and as industry head for the financial services practice at Patni, Inc., a technology consultancy firm.
Earlier in his career, Mehta held positions at Mercer, The Reference, Inc., and The Mathworks.
Mehta holds an MBA degree from Babson College, an M.S. degree in electronic engineering from Columbia University and a BSc. degree in electronic engineering from the University of Southampton.