Robert Paine has quit Putnam Investments to join New York-based Stanfield Capital Partners as its head of distressed debt, reports the Boston Globe. Paine was athe portfolio manager of Putnam High Yield Trust. His decision to leave the firm was unrelated to the merger of the High Yield Trust and High Yield Trust II funds that was announced last month as part of Putnam's plans to eliminate 11 of its 66 funds. 

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