In two years, Putnam Investments
] is moving. But Bob Reynolds
won't be moving his team very far.
| Robert L. Reynolds|
President, Chief Executive Officer
Yesterday Reynolds, president and CEO of Putnam, confirmed that the Boston-based mutual fund shop will move to 100 Federal Street in 2018. The building also includes BofA offices and is only a couple of blocks from Putnam's current headquarters at One Post Office Square. Putnam has been in One Post Office Square since 1978.
Catherine Carlock and Greg Ryan of the Boston Business Journal reported
on the move. Back in December news broke
that Putnam would be moving to 100 Federal Street.
Putnam's new HQ will have nearly 250,000 square feet and accommodate about 1,000 employees. That's a bit bigger than Putnam's current, 240,000-square-foot, 900-person space. Yet the new space is also a bit smaller than the 275,000-square-foot rumor from the fall.
Reynolds praises the new location as "a building that is a powerful presence on the city's landscape," offering "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."
Reynolds also expects to maintain Putnam's Andover offices, with nearly 700 employees. As of November 30, 2015, Putnam had $152 billion in AUM.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now