Aaron Cooper Named EVP and Chief Operating Officer of Putnam Investments

Shep Perkins to Become Firm’s Chief Investment Officer of Equities

BOSTON–(BUSINESS WIRE)–In an ongoing effort to stimulate innovation, maximize opportunities on
behalf of clients, and manage its business in a dynamic, but thoughtful
manner, Putnam Investments today announced the appointment of Aaron
Cooper to the newly created role of EVP and Chief Operating Officer,
reporting directly to Putnam Investments President and CEO Robert L.

As EVP and Chief Operating Officer, Cooper will oversee several of
Putnam’s business areas, including Investments, Operations, Digital
Technology, and Global Investment Strategies (the firm’s product
strategy group).

Cooper, age 41, who previously served as the Chief Investment Officer of
Equities for the $170 billion asset manager, will be replaced by Putnam
veteran Shep Perkins, age 48, in that role. Perkins has been Co-Head of
Equities with portfolio management responsibilities at the firm. Both
Cooper and Perkins joined Putnam in 2011.

“Successfully operating in today’s asset management environment requires
continual evolution and reinvention – both in internal structure and in
serving the marketplace,” said Reynolds. “We believe that our new
leadership model, including the creation of a Chief Operating Officer
role, will allow Putnam to strongly align its resources around many of
its key priorities as we move forward.”

Reynolds added, “I look forward to working closely with Aaron in further
strengthening Putnam’s strategic focus and driving key aspects of our
firm’s business goals. Aaron brings impressive intellectual depth,
superior management experience, and an unyielding commitment to the
mission at hand, which will only serve to benefit our firm and our

About Aaron Cooper
Aaron Cooper is EVP and Chief Operating
Officer for Putnam Investments, where he oversees the firm’s
Investments, Operations, Digital Technology, and Global Investment
Strategies businesses. Prior, Cooper was Chief Investment Officer,
Equities, responsible for leading Putnam’s Equity group, including the
portfolio management, research, and trading areas. In addition, he has
been a portfolio manager of Putnam Global Sector Fund, Putnam Research
Fund, and George Putnam Balanced Fund. Cooper joined Putnam in 2011.

Before joining Putnam, Cooper was Managing Director of Research at
Fidelity Investments from 2007 to 2011. He also formerly managed
Fidelity Advisor Health Care Fund, Fidelity VIP Health Care Portfolio,
Fidelity Select Leisure Portfolio, and Fidelity Select Medical Equipment
and Systems Portfolio. Cooper holds a B.A. degree in Economics from
Harvard University. He has been in the investment industry since 2000.

About Shep Perkins
Shep Perkins is Chief Investment Officer,
Equities, where he leads the firm’s equity group, including the
portfolio management, research, and trading teams. Before that, Perkins
was Co-Head of Equities, responsible for providing strategic direction
to portfolio managers and equity analysts. In addition, Perkins is a
portfolio manager of Putnam Global Equity Fund and Putnam Sustainable
Leaders Fund. He joined Putnam in 2011.

Prior to joining Putnam, Perkins was the portfolio manager of Fidelity
Mid-Cap Stock Fund from 2005 to 2011. Prior to that, he was responsible
for Fidelity OTC Fund. He received a B.A. in Economics from Amherst
College and is a CFA Charterholder. He has been in the investment
industry since 1993.

Strong performance, strong flows at Putnam
At the end of
December 2018, Putnam had 22 active
mutual funds
1 with an overall rating of four or five
stars by Morningstar, a respected industry observer. Moreover, in March
2018, Barron’s ranked Putnam one of the top ten mutual fund families
across multiple time periods for the past decade, based on strong
investment performance across asset classes. The firm ranked 7th (out of
58) for one year, 7th (out of 53) for five years, and 9th (out of 49)
for ten years.

In 2018, Putnam had net inflows overall, and positive flows in each of
its three primary business lines: retail mutual fund, institutional, and
defined contribution – investment only.

About Putnam Investments
Founded in 1937, Putnam Investments
is a leading global money management firm with over 80 years of
investment experience. At the end of January 2019, Putnam had
approximately $170 billion in assets under management. For more
information, visit putnam.com.

1 Class Y shares as of December 31, 2018.


Jon Goldstein, 617-760-1127 (office), 516-946-5598 (cell), jon_goldstein@putnam.com

Laura McNamara, 617-760-1108 (office), 978-505-0524 (cell) laura_mcnamara@putnam.com

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