Steve Oristaglio, head of investments at Putnam, will retire sometime this year. Taking his place, effective immediately, is Kevin Cronin, currently deputy head of investments, Putnam announced on Friday.

Cronin has been deputy head of investments since July of 2004, also when Oristaglio took over as a sole chief investment officer from a shared role with CEO Ed Haldemann.

In related announcements, Joshua Brooks and Edward "Ned" Shadek, Jr. were named deputy heads of investments, and will report to Cronin. Brooks is chief investment officer of large cap equities and Shadek is chief investment officer of small cap equities. 

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