Two months into his reign as president and CEO, Bob Reynolds is banishing business casual at Putnam Investments' headquarters and overseas offices. Men are supposed to come to work in a "suit, dress shirt and tie, dress shoes and socks" and women are supposed to be in a "suit or business style dress, or dress slacks, blouse or dress top, and dress shoes," The Boston Herald reports.

"This change is consistent with the commitment and focus of our management to restoring Putnam to its rightful place at the top of our industry," The Herald quoted Putnam's human resources director as stating in a company memo.

The new dress code took effect Monday.

Back-office employees in Andover and Franklin can still wear "appropriate business casual," but they must wear "traditional" if they have client meetings.

Reynolds, a 23-year Fidelity veteran, joined Putnam in July (see The MFWire, June 12, 2008). 

Edited by: Armie Margaret Lee


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