Putnam hires David Glancy as managing director, portfolio manager to focus on high-yield and bank debt

By Devika Patel

Knoxville, Tenn., Feb. 19 - Putnam Investments announced in a press release that it has hired David Glancy as a managing director and portfolio manager.

Glancy joins the company from Andover Capital, where he was a founding partner and portfolio manager.

He will partner with Putnam's research teams to identify opportunities across the entire capital structure, focusing on equities while also including high-yield and bank debt. Glancy has special expertise in assessing undervalued, leveraged companies, which are companies that issue lower-quality debt or that otherwise have leveraged capital structures.

Prior to joining Andover Capital, he worked at Fidelity Investments for 13 years, where he was most recently manager of Fidelity Capital & Income Fund. He also managed Fidelity Leveraged Company Stock Fund from its inception in 2000 until leaving the firm near the end of 2003. Glancy also managed the top fund in Lipper's capital appreciation category.

Prior to Fidelity, Glancy was a high-income analyst with Dean Witter from 1989 to 1990, and a bond analyst with Standard & Poor's rating office from 1987 to 1989.

He earned his bachelor's from Tulane University and his master's in business administration from Emory University.

The Boston-based money management firm also said it hired three analysts.

Insurance analyst Shobha Frey joins Putnam from K Capital Partners, a boutique investment manager specializing in European special situations, and has over 16 years of investment industry experience.

Lucas Klein, who covers consumer staples, joins Putnam from RiverSource Investments, where he worked as a senior research analyst.

George Gianarikas, previously with Wellington Management, covers technology and telecom for the Large Cap Equity research team.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.