What Happened?
Boston, MA-based Putnam Investments Appointed Sumedh Mehta as Chief Technology Officer
About the Company
Putnam Investments is a global money management firm with 75 years of investment experience. Our broad range of investment products includes advisor-sold mutual funds; 401(k)s, IRAs, and other retirement plans; variable annuities; and institutional portfolios. Putnam 529 for America is sponsored by the State of Nevada, acting through the Trustees of the College Savings Plans of Nevada and the Nevada College Savings Trust Fund. Anyone may invest in the plan and use the proceeds to attend school in any state. Before investing, consider whether your state`s plan or that of your beneficiary offers state tax and other benefits not available through Putnam 529 for America. If you withdraw money for something other than qualified higher education expenses, you will owe federal income tax and may face a 10% federal tax penalty on earnings. Consult your tax advisor. Putnam Retail Management, principal underwriter and distributor. Putnam Investment Management, investment manager.
About the Person
Sumedh Mehta is the CTO for Putnam Investments. At Fidelity Investments, Sumedh Mehta was responsible for the overall strategy and execution of IT for Equity, High Income, and Pyramis. In this role Sumedh aligned technology investments with business priorities to help achieve business strategy. He is a hands-on leader who has delivered innovative solutions. By improving productivity, optimizing IT costs, and changing the engagement model, Sumedh has aligned IT with Fidelity Asset Management`s overall goals and has become a strategic business partner. Sumedh Mehta has over 20 years of experience in managing IT and Operations. He has led transformational change in software development, IT operations, and business operations. Sumedh has led Change Management initiatives for Marsh McLennan’s global businesses and built a 1500 person BPO unit for Mercer’s Outsourcing business. As part of IT Outsourcing strategy, Sumedh rationalized IT services relationships, deployed a SLA-driven model for IT Operations and improved quality across the firm. As a leader of Global Operations Center at Mercer, Sumedh’s work led to direct increases in gross margin. The new services model at lower cost and improved quality increased Mercer`s competitive position. Sumedh developed and executed process improvement for benefits administration, insurance agency back office operations, and IT process improvements. Prior to his work in Operational Improvement, Sumedh Mehta, led an IT Services business from inception to an acquisition by a large IT Offshoring firm. As CEO, and later as head of Financial Services Business Unit, he led the company to a dominant position in Investment Technologies. The Reference Inc. became known for its expertise in developing Portfolio Management, Trading, and Performance Attribution solutions. Sumedh Mehta has industry experience in Investment Management, Insurance, and Benefits Administration
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