Canada native Jeffrey Carney has left his job as president of Bank of America Retirement and Global Wealth & Investment Management Client Solutions to join a company with Canadian ties of its own. Carney, 46, was lured to the post of global marketing and products head at Boston-based Putnam Investments by his pal, Putnam CEO Robert Reynolds, who was Fidelity Investments’ chief operating officer when Carney worked at the company from 2001 to 2007, first as president of Fidelity Investments Canada and later heading up the parent’s retail and retirement arms. Reynolds is charged with revamping the ailing Putnam, purchased in February 2007 by Montreal-based Power Financial Corp.’s subsidiary Great-West Lifeco. Putnam is still struggling to recover from the market timing scandals of 2003 and performance problems amid today’s volatile stock markets. “Hey, there’s no easy place to be right now,” Carney says about the challenges at Putnam.
