Great-West Lifeco Inc. today announced the hiring of Bob Reynolds as president and CEO of its U.S. subsidiary, Putnam Investments. Ed Haldeman, currently Putnams’s president and CEO, has been named chairman of Putnam Investment Management, LLC.

Both appointments are effective July 1.

“Bob brings substantial industry experience, energy, and a fresh perspective to Putnam’s leadership team,” says Jeffrey Orr, chairman of the board of directors of Putnam Investments. “Along with Kevin Cronin, Putnam’s head of investments, and Bill Connolly, Putnam’s head of global distribution, we have a very strong management team to move Putnam forward.”

“We welcome Bob to the Putnam team,” says Haldeman. “I personally look forward to working with him as we continue positioning Putnam to exceed our clients’ expectations.”

“Putnam has a strong reputation for its broad investment management capability, distribution prowess, and award-winning service. I am honored and excited to join Putnam and lead a company that has one of the great legacies in the industry,” says Reynolds.

Reynolds was vice chairman and COO of Fidelity Investments from 2000 to 2007. From 1996 to 2000, he was president, Fidelity Investments institutional retirement group. Previously, Reynolds held various senior management roles within the Fidelity Investments organization, beginning in 1984.

A native of Clarksburg, West Virginia, Reynolds graduated from the West Virginia University College of Business and Economics in 1974 with a bachelor’s degree in business administration, majoring in finance.

Putnam Investments is one of oldest and largest money management firms in the United States. As of May 31, 2008, Putnam managed US$175 billion in assets.