Mass. fund to rehire Putnam
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The state yesterday rehired the poster child for the mutual fund scandal and fired the industry's current golden child.
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When corporate America came looking for raises last year, Boston&#39;s largest mutual funds routinely turned them down, voting in hundreds of cases against lucrative
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Fidelity Investments plans a series of meetings with Massachusetts economic development officials, following the Boston mutual-fund giant's disclosure on Tuesday it may create up to 1,500 jobs in a Dallas suburb.
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Putnam Investments will pay $40 million to settle yet another regulatory probe, while corporate parent Marsh &amp; McLennan Cos. yesterday said it would cut 3,000 jobs in the fallout from the price-fixing and bid-rigging scandal enveloping its insurance brokerage unit.
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Massachusetts public officials should reach out to out-of-state companies that take over Massachusetts firms and encourage them to grow here, state Treasurer Timothy P. Cahill said yesterday as he launched a business task force to look for ways to bring more jobs to Massachusetts.
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Federal regulators are expected to bring charges this week against two former employees of the mutual fund unit of the old FleetBoston Financial Corp. -- and settle with three others -- in connection with a long-running investigation of improper market-timing trading at the former bank's Columbia funds unit, according to attorneys and officials involved in the case.
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Putnam Investments yesterday said it will dismiss another 100 employees in a cost-cutting move to reflect its smaller size after an employee-trading scandal cost it tens of billions in investors&#39; funds.
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As many as 15 senior execs could lose their jobs in the next few days: source. BOSTON  - Putnam Investments is expected to lay off more employees, the chief executive of its parent company said Tuesday
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Officials of embattled Marsh &amp; McLennan Cos. yesterday moved to squelch speculation that its Boston money management firm, Putnam Investments, will be divorced from its corporate parent, either in a sale to an outside buyer or through a private buyout engineered by Putnam executives.
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Hedge fund Breeden Capital Management pushes for big changes at Applebee's.
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Gregory A. White, one of Governor Mitt Romney's two representatives on the state pension board, has joined Thomas H. Lee Co., a leveraged buyout firm in Boston that does business with the $32.5 billion retirement fund for Commonwealth employees.
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Putnam Investments on Friday promoted a  veteran bond manager to head its investments groups, marking  the latest personnel changes as the mutual fund company works  to improve performance at many of its funds.
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Rep. Adam Putnam (R-Fla.), who led much of Congress&#39; oversight of federal information technology during the past two years, has left the House Government Reform Committee and joined the Rules Committee.
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Former Massachusetts attorney general Thomas F. Reilly, who left the post after his unsuccessful bid last year for the Democratic nomination for governor, will join the Boston office of the law firm Greenberg Traurig.
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Bank of America Corp. chief executive Kenneth D. Lewis reaffirmed his bank's commitment to New England yesterday in a round of meetings in Boston with state and city officials, but he still declined to specify how many Massachusetts jobs the bank will cut as a result of its $48 billion acquisition of FleetBoston Financial Corp.
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Bank of America plans to move an additional 300 jobs from its Wealth and Investment Management businesses to Boston. The bank was sharply criticized after it cut jobs at former Fleet branches in Massachusetts.
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Thousands of workers who lost their pensions when firms went bust are expected to be given more financial help.