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Tuesday, January 12, 2016

Putnam Is Moving In Two Years

News summary by MFWire's editors

In two years, Putnam Investments [profile] is moving. But Bob Reynolds won't be moving his team very far.

Robert L. Reynolds
Putnam Investments
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. 

Edited by: Neil Anderson, Managing Editor

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