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Wednesday, March 25, 2009

Putnam Makes Cuts Down Under

by: Erin Kello

Putnam Investments Australia has laid off two of its three-member staff in the country. Money Management Newspaper reports that Peter Walsh, director of Putnam's retail business and Timothy Meggitt, vice president and regional marketing director, will be leaving at the end of the week. The remaining executive at Putnam's Australia operations will be Charles Wall, senior vice president and director, institutional business.

"The office remains open and functioning, there's no change in the investment team or what they're doing and all the investment funds are still there," Wall told the pub.

Last month, Boston-headquartered Putnam confirmed that it was planning to lay off 260 employees, or about 10 percent of its staff (see The MFWire, 02/11/09).  

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