GLOBAL – Tim Ferguson, the former head of investments at Putnam Investments, is to leave the firm at the end of this month.
Ferguson “has decided to devote his time to fulfilling his professional objectives,” said a spokesman.
Putnam is part of Marsh & McLennan Cos., the parent of pensions consultancy Mercer Investment Consulting.
Ferguson left the post of investment chief at the Boston-based firm in October last year when Charles Haldeman and Steve Oristaglio were named co-heads of investment. He took on a role overseeing “strategic initiatives” as well as planning and human resources. The spokesman declined to comment on the reasons for Ferguson’s departure.
Putnam recently said it was looking to double its European institutional assets under management. In April, MMC reported that Putnam’s first-quarter revenues declined 25% to 445 million dollars and its total institutional assets under management declined to 86 billion dollars from 87 billion dollars.