Putnam Investments said it has hired Edmund F. Murphy 3rd as a managing director and head of defined contribution products.

In his new role, Mr. Murphy is to run the Boston fund manager's defined contribution retirement plan business, Putnam said Tuesday. He was an executive vice president of distribution for personal and workplace investing at Fidelity Investments and, before that, an executive vice president of Fidelity Institutional Retirement Services Co.

Putnam, a subsidiary of Great West Lifeco Inc., had $106 billion under management at Dec. 31.

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