The Investment Company Institute has hired Peter Gallary as chief operating officer. Gallary replaces Larry Maffia, who left the ICI in July to become president of the ICI Mutual Insurance.Gallary will lead the finance, technology, membership relations, human resources, and administrative functions, as well as serve as a key liaison to the board of governors and its committees in support of ICI’s governance process. He reports directly to President Paul Schott Stevens.

Gallary most recently worked at Putnam Investments as managing director and head of operations. He also worked at Boston Company Advisors as chief executive officer.

“Peter has a rare combination of expert knowledge, hands-on experience and proven leadership in our industry, along with a keen understanding of the vital role mutual funds play in the global financial market,” Schott Stevens said.

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