The board of Great-West Lifeco Inc. has hired Robert Reynolds to be president of the Putnam Investments unit.

Great-West, Winnipeg, Manitoba, a subsidiary of Power Corp. of Canada, Montreal, bought Putnam from Marsh & McLennan Companies Inc., New York, in August 2007.

Reynolds previously was the chief operating officer at Fidelity Investments, Boston. He has a bachelor’s degree in business from West Virginia University.

Charles Haldeman, who has been president of Putnam, now will be chairman of Putnam Investment Management L.L.C., Great-West says.