After postponing his retirement following the sale of Putnam Investments to Power Financial two years ago, Charles "Ed" Haldeman has stepped down from his positions as chairman of Putnam Investment Management, president of the Putnam Funds and member of Putnam Funds' board of trustees, Putnam said Tuesday.

Putnam President and CEO Robert L. Reynolds will replace Haldeman as president of the Putnam Funds, but the position of chairman of Putnam Investment Management will not be replaced.

“Ed Haldeman joined Putnam Investments during some very challenging times, and his steady leadership helped to keep the company on course,” Reynolds said. “As he retires, I’d like to thank him on behalf of the entire Putnam organization for his years of dedicated service to the company. We wish him the very best for the future.”

“When we agreed to sell Putnam to Power Financial Corporation in January 2007, I committed to stay at Putnam until June 30, 2008,” said Haldeman, 60. “My agreement was extended, and it is now almost two and a half years since the sale of Putnam was announced. Power Financial has been a great owner and continues to invest in the business. Bob Reynolds is doing a great job as CEO. This is a good time for me to advance to the next stage of my career. I’ll always be grateful for the opportunity to have worked with so many dedicated and talented professionals.”

Prior to joining Putnam Investments in 2002, Haldeman served as CEO of Delaware Investments, and earlier as president and chief operating officer of United Asset Management.

He currently serves as chairman of the Board of Trustees of Dartmouth College. He also serves on the Harvard Business School Board of Dean’s Advisors, the Partners HealthCare Investment Committee, and the executive committee of the Boston Chamber of Commerce. He formerly served on the Board of Governors of the Investment Company Institute.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.