F.L. Putnam Investment Management strengthens Providence operation

PROVIDENCE – F.L. Putnam Investment Management Co. has moved to a larger office in downtown Providence and has hired a trio of veteran wealth managers from Bank New York Mellon with “strong local ties” to expand the firm’s business in Rhode Island, the company announced.

Now located at 10 Weybosset St., F.L. Putnam has appointed Thomas P. Fay as regional president for Rhode Island. Former R.I. Lt. Gov. Roger N. Begin will serve as private client adviser. And Marianne Pursley has been hired as investment adviser, the company said.

Fay will work directly with F.L. Putnam CEO Tom Manning and the company’s existing Providence team, led by Glen Martin, to grow its existing client base in Rhode Island. Fay also will oversee all local market operations for F.L. Putnam, the company said.

“We are extremely fortunate to have assembled a seasoned and passionate team of wealth- and investment-management professionals, who are also stalwarts of the Rhode Island community, to lead F.L. Putnam’s expansion in the region,” Manning said in a statement.

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“We expanded into Providence last year with the aim of providing Rhode Islanders high-quality, independent wealth- and investment-management advice, delivered by people living and working within the local community. With our expanded presence – led by Tom, Roger, Marianne and Glen – we expect to continue to deliver outstanding service and results to the local client base and expand our presence in the region.”

Previously, Fay served as regional president at BNY Mellon, where he led the wealth-management group for the southern New England region. Prior to that, Fay was chief investment officer and head of private bank and trust at Providence-based Citizens Bank. He has more than 30 years of experience in wealth and investment management.

Begin served as Rhode Island’s general treasurer from 1985 to 1989 and as lieutenant governor from 1989 to 1993. For the past 25 years, Begin has worked in the wealth-management industry, most recently serving as senior wealth director at BNY Mellon in Providence. Before that, he was private client adviser at Bank of America.

Pursley has more than 20 years of experience in wealth management. Previously, she was senior wealth manager at BNY Mellon in Providence, working closely with high net worth families and individuals.

Martin, a 35-year financial-services veteran, joined F.L. Putnam in 2016 and now serves as private client adviser in Providence. Previously, he spent 30 years at Bank of America, most recently as market executive of U.S. Trust in the New England market. At U.S. Trust, a BofA subsidiary, he also served as market executive for Rhode Island.

Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.