American Pension Services’ Platinum 401k program already includes investment platforms from Transamerica Retirement Services and
Hartford Life.
The Platinum 401k program offers clients the ability to
eliminate annual plan audits, plan sponsor‐level trustee
liability, annual Form 5500 filings, and through the
use of Montgomery Retirement Plan Advisors, Inc., an ERISA 3(38)
Investment Manager, to select and monitor investment options.
The outsourcing of investment selection allows the plan adviser
to provide services to their clients – including handling rollover funds
from terminated employees – without becoming a fiduciary to the plan,
the company reported.
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D. William Kohli, Michael V. Salm, and Paul D. Scanlon — industry veterans who have a combined 40+ years of experience at
Putnam — will co-head the firm’s fixed income team of over 60 investment
professionals, who manage nearly $60 billion. Kohli, Salm, and Scanlon
will report to Walter C. Donovan, Chief Investment Officer.
According to the announcement, Rob Bloemker, who has led
the firm’s fixed income team since late 2007, has decided to leave
Putnam Investments. Following the transition period, portfolio
management responsibilities previously undertaken by Bloemker will be
assumed by other members of the respective product teams, including
Kohli, Salm and Scanlon.
Kohli joined Putnam in 1994. He
has been a team leader of the Portfolio Construction Team within the
Core Fixed Income group, specializing in global and non-U.S.
multi-sector mandates. He is also a portfolio manager of
Putnam Global Income Trust, Putnam Diversified Income Trust, Putnam
Absolute Return 100 Fund, Putnam Absolute Return 300 Fund, Putnam
Premier Income Trust and Putnam Master Intermediate Income Trust.
Previously, Kohli held co-director, Global Bond Team and
senior portfolio manager roles at Franklin Advisors/Templeton Investment
Counsel. He has a B.A. from University of California, San Diego, and an M.B.A. from University of California, Berkeley.
Salm joined Putnam in 1997.A
team leader of the Liquid Markets group, he is also a portfolio manager
of Putnam Global Income Trust, Putnam U.S. Government Income Trust,
Putnam American Government Income Fund, Putnam Income Fund, Putnam
Absolute Return 100 Fund and Putnam Absolute Return 300 Fund.
Previously, Salm held various investment,
trading and research responsibilities at BlackRock Financial
Management, Nomura Securities, Nikko Securities and Fitch Investor
Services. He has a B.S. from Cornell University.
Scanlon joined Putnam in 1999. A
team leader of the U.S. High Yield Fixed Income group, he is also a
portfolio manager on Putnam Absolute Return 100 Fund, Putnam Absolute
Return 300 Fund, Putnam Diversified Income Trust, Putnam Floating Rate
Income Fund, Putnam Global High Yield Bond Fund, Putnam High Yield
Advantage Fund, Putnam High Yield Trust, Putnam Master Intermediate
Income Trust and Putnam Premier Income Trust.
Before joining Putnam, Scanlon was senior vice president
at Olympus Health Care Group and senior analyst, fixed income at
Fidelity Investments.He began his career as assistant treasurer, corporate finance at National Westminster Bank.Scanlon has a B.A. from Colgate University and an M.B.A. from University of Chicago.
“We believe that expanding the top leadership ranks of our
fixed income platform will allow each of its sector specialist teams to
have even greater focus, direction and strategic coordination, resulting
in even stronger offerings to clients as we move forward,” Donovan said
in the announcement.