Putnam Investments announced investment management changes Friday in its Putnam Voyager Fund and Putnam Growth Opportunities Fund.

Kelly A. Morgan, who has been team leader and portfolio manager of the core growth equity team and the director of global equity research, is to be chief investment officer of large-cap growth and co-leader of the portfolio management team for these funds. Robert E. Ginsberg, a portfolio manager in the core growth equity team, is to join Ms. Morgan as a co-leader of the funds.

They are to retain their respective responsibilities in core equity and research.

The two succeed Brian A. O'Toole, portfolio leader of the Voyager fund and Growth Opportunities fund, who is leaving Putnam. Also leaving is David Santos, a portfolio team member who worked with Mr. O'Toole on both funds.

Morgan joined Putnam in 1996 and has 19 years of investment industry experience. Ginsberg joined last year from Delaware Investments, where he had been a portfolio manager and senior equity analyst for seven years. (Putnam CEO Ed Haldeman was hired from Delaware Investments, where he was the chief executive, in 2002.)

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