Putnam Investments announced last Tuesday that it had hired the president and chief executive officer of Delaware Investments and its parent, Lincoln National Investments Co., to be its co-head of investments.
Charles E. "Ed" Haldeman, Jr. was named a senior managing director as well as co-head of investments. Haldeman, who has 28 years of investment experience, is to join Putnam Nov. 1. He will share his new role with Steve Oristaglio, who is deputy head of investments. Tim Ferguson, who was head of investments for four years, will stay with Putnam and focus on strategic initiatives and alternative investments.
Jude T. Driscoll, an executive vice president, was named interim chief executive officer of Lincoln National and Delaware Investments, succeeding Haldeman. D'Arcy Rudnay, a spokeswoman for Lincoln National, said the company will begin a search immediately to find a permanent CEO.
Haldeman was Delaware's president and chief executive officer for two Years
Four months after joining the firm, he told MFMN he had joined Delaware with the express intention of turning around the company [see MFMN 5/14/00]. "When I first came to Delaware, the principle objective was to improve performance. While some of our asset classes were doing well, many weren't as compared to specific industries or peers," Haldeman said.
Haldeman previously was president and chief operating officer at United Asset Management Corp.