Tower Group in Needham, Mass., has hired Robert Hegarty to be director of investment management technology research in its securities and investments practice.

Mr. Hegarty is to direct the production and distribution of research notes and advisory services for order management, analytics, performance attribution, risk management, and electronic communication networks.

He was vice president of trading systems at Putnam Investments in Boston, responsible for equity and fixed-income systems. Earlier he was vice president of technology at Fidelity Capital Markets, the institutional broker-dealer arm of Fidelity Investments.

Tower Group is an independent provider of information technology research, advice, and consulting services for the financial industry.

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