Putnam Investments, a Boston subsidiary of Great West Lifeco Inc., has hired Daniel C. Farrell to head its equity trading.
Mr. Farrell, who has more than 15 years of institutional equity trading experience, was vice president of equity trading at RiverSource Investments, Putnam said last week. Before that, he was vice president of equity trading at MFS Investment Management.
The hiring continues Putnam's effort to improve its equity performance and improve asset inflows. Since Robert Reynolds took over as chief executive officer in July, the investment company has hired several veteran fund managers and senior research analysts, and it has said it plans more additions in the next few months.
Putnam had $116 billion of assets under management at Oct. 31, of which $62 billion was managed for mutual fund investors and $54 billion for institutional accounts.