Putnam Investments has hired a head of global stock research.
Putnam, a unit of the big insurance brokerage Marsh & McLennan Cos. Inc., announced earlier this week that Joshua Brooks would join April 7 to oversee research analysts. He was the chief investment officer and head of value investments at Delaware Investments in Philadelphia, a unit of Lincoln National Corp.
Brooks succeeds William Landes, who was reassigned to develop a hedge fund unit for Putnam.
Putnams revenue fell 22% last year as its stock and bond funds had $15.7 billion of net withdrawals. The company managed $241 billion of assets at Feb. 28, down from $249 billion at Dec. 31.