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Goldstein and his Co-Chief Investment Officer, Robert J. Schoen, who was appointed to the senior investment role in November 2016, will be jointly responsible for the overall strategy and positioning of the firm's GAA products. Together, they will oversee portfolio construction and risk management for GAA portfolios and the research that drives equity security selection strategies.

"Asset allocation is an increasingly dynamic area of investing, presenting an array of new opportunities for the marketplace," said Aaron M. Cooper, Chief Operating Officer, Putnam Investments. "The broad expertise and deep experience of Rob Schoen in the multi-asset arena, combined with the portfolio construction acumen of Brett Goldstein, particularly in the target-date investment sphere, will provide strong and strategic leadership in guiding the firm's GAA efforts for the exciting journey ahead."

"Brett's tremendous passion for capital markets, exceptional investing skills and commitment to innovation have contributed to his significant accomplishments as a portfolio manager in our GAA group," said Schoen. "I am excited about partnering closely with Brett in the coming years to maximize opportunities for our clients and further build Putnam's presence in the increasingly important multi-asset market."

Schoen explained that the firm sees great potential for the development of new retirement offerings, multi-asset ESG products, custom indexes, model portfolios and other dynamic offerings that can address a host of marketplace needs. "Brett and I look forward to collaborating closely on investment strategies that produce meaningful outcomes for investors."

In another development, Schoen indicated that Adrian H. Chan will become a named Portfolio Manager on all Putnam GAA products. Chan, who has been with the firm for 16 years, is considered one of Putnam's foremost experts on volatility, a critical consideration in the GAA investment process. Additionally, he has been leading Putnam's efforts in developing custom indexing for the insurance channel.

Goldstein began his career at Putnam Investments in 2010 as part of the Investment Associate program, subsequently serving as an Analyst. Currently, he is responsible for the research and implementation of risk and portfolio construction methods across GAA products and also works extensively with retirement glide path research and GAA target-date funds. He is a Portfolio Manager of Putnam Dynamic Asset Allocation Funds (Growth, Balanced, and Conservative); Putnam Dynamic Risk Allocation Fund; Putnam Multi-Asset Absolute Return Fund; Putnam Retirement Advantage Funds; Putnam RetirementReady Funds; and Putnam 529 for America.