Putnam Investments said Thursday that Fixed Income Chief Investment Officer Bill Kohli plans to step down next year after 26 years at the Boston-based investment firm.
Michael Salm, a portfolio manager specializing in fixed income who’s been with Putnam for more than 20 years, has been named co-CIO and will succeed Kohli when he retires in about nine months.
“While excited for my next chapter, I am proud and honored to have represented Putnam for the past 25-plus years … ,” Kohli said in a statement. “I have total confidence in Mike’s ability to lead fixed income and look forward to our continuing partnership in the coming months.”
Putnam manages some $180 billion in assets overall, $75 billion of which are in fixed income.