Robert Reynolds was named president and CEO of troubled mutual fund Putnam Investment Management LLC, succeeding Charles Haldeman on July 1. Reynolds was vice chairman and chief operating officer of Fidelity Investments from 2000 until April 2007, when he abruptly retired.

Separately, Putnam Investments named Gerald Sullivan a managing director and senior portfolio manager and Rob Brookby a senior vice president and portfolio manager of the U.S. large cap equity group. They will join Putnam from American Century Investments, where they managed the American Century fundamental equity fund. Sullivan will start in late June, while Brookby will join in early September. Richard Cervone, who was a portfolio member of U.S. core equity, is leaving Putnam.

Fidelity Investments said Michael Wilens, a senior executive at Thomson Reuters, is joining the firm as head of asset management mid-July, reporting to president Rodger Lawson. Wilens will join the executive committee and oversee Fidelity Management & Research Co., Pyramis Global Advisors and Strategic Advisers.

FBR Capital Markets Corp. made senior managing director John Maier II group head of financial sponsors in the investment banking group. Maier has been a senior managing director and co-group head of mergers and acquisitions since February 2007. Before joining FBR, he co-founded Legacy Partners Group LLC, and was a managing director in Credit Suisse Group's M&A team in New York and co-head of the firm's global exclusive sales group.

Senior managing director James Frawley, co-group head of M&A, is sole head of the division.

Recently, executive vice president James Neuhauser was named head of investment banking at FBR. Neuhauser has led the firm's financial institutions, insurance and real estate investment banking groups.

Palo Alto Investors LLC elected Anthony Yun as president, succeeding founder William Edwards, who will remain as chairman and continue to act as chief investment officer. Yun joined Palo Alto Investors in 1998 as a partner focusing on investments in the healthcare sector. He will remain co-manager of the healthcare funds alongside Patrick Lee.

GMAC Financial Services named Rajinder Singh to the new role of chief credit risk officer. Singh joins GMAC from Genpact, where he was the head of global analytics services. Also, Brian Gunn joined GMAC in the global automotive finance business as risk officer for consumer credit and will jointly report to Singh and GMAC president Bill Muir. Gunn joins GMAC from GE Money Canada, where he was recently chief risk officer.

Riverstone Holdings LLC, a private equity firm specializing in the energy and power sectors, hired Stephen Coats as a managing director and as general counsel. Coats arrives from Vinson & Elkins LLP, where he was a partner covering domestic and cross-border mergers, acquisitions and divestitures.

BNP Paribas SA appointed Benjamin Jacquard as global head of structured credit and arbitrage trading. Based in London, he reports to Guillaume Amblard, global head of fixed income trading.

Before Calyon, where he was in charge of the structured credit business, Jacquard built or managed exotic credit trading and structuring teams at Bank of America Corp. and Crédit Agricole SA.

Deutsche Bank Securities Inc. said Thomas Widener joined the firm's global banking division in New York as a managing director and vice chairman in the natural resources group. Widener joins from Bear Stearns Cos., where he was a senior managing director and global head of the power and utilities group. He also oversaw the firm's alternative energy investment banking activities. Before Bear, he spent more than 20 years in investment banking at Merrill Lynch & Co.

Separately in New York, Deutsche Bank Private Wealth Management said George Zahringer III joined the firm as a managing director and client adviser. He was previously a senior managing director with Bear Stearns.

Katten Muchin Rosenman LLP welcomed Steven Eckhaus to the firm as a New York-based partner in its financial services practice and chair of the executive employment practice. Prior to Katten, Eckhaus was managing partner of McCarter & English LLP's New York office, as well as a partner in its corporate and employment law practices.

Venable LLP named assistant U.S. Trade Representative Tiffany Moore as a senior legislative adviser in its Washington office. Prior to her role at USTR, Moore was director of government relations for Kellogg Co.

Gibson, Dunn & Crutcher LLP announced that Benjamin Hershkowitz joined its New York office as a partner. Previously with Goodwin Procter LLP, Hershkowitz focuses on intellectual property litigation. He also practiced with Kenyon & Kenyon LLP.