Haldeman had agreed when negotiations began to continue as CEO and president for only a few months past the completion of the $3.9 billion deal, which occurred in January.
"This transition has been anticipated for a very long period of time," Haldeman said.
Putnam tapped former Fidelity Investments executive Robert Reynolds to replace Haldeman. Haldeman said his decision to stay at Putnam in the mutual fund sector will make the leadership transition smoother.
"A very, very gradual transition, rather than something abrupt, will be much, much better for everybody," he said in an interview. "What we're trying to do at Putnam is have some sense of continuity, which I represent. Bob [Reynolds] represents new energy and direction."
Haldeman said he will continue to meet with important clients and recruit employees for Putnam.
Putnam's change in leadership serves to make the company more competitive, The Boston Globe reported last week. While Haldeman succeeded in stabilizing Putnam, he could not turn around its performance, The Globe said. The company managed assets estimated at $370 billion in 2000, according to The Wall Street Journal, but at the end of 2007, Putnam's quarterly performance report stated that the company held $186 billion, down almost 50 percent.
Haldeman said it would be inappropriate to reflect on his time as CEO and president of Putnam while he remains at the company.
"My current contract says I'll be here through 2010," he said. "Whenever it's over, I'll have time to reflect back. I'm in my office here today, still going 100 percent."
The Dartmouth Review reported in April that Haldeman, who joined Putnam as Chief Investment Officer in 2002, knew about improper trading at the organization during his time in senior management, citing allegations by former Putnam call center employee Peter Scannell.
Haldeman was appointed CEO in 2003 after the former CEO and other top executives stepped down following the trading scandal and an investigation by federal and state authorities.
Putnam eventually settled with the Securities and Exchange Commission and Massachusetts securities authorities for $110 million in penalties and restitution.
Officials inside and outside of the company have consistently maintained that the allegations against Haldeman are false, as The Dartmouth previously reported. Haldeman said in a past interview that he did not learn of the improprieties until the company began collecting files for the investigations. John Hill, chairman of Putnam's independent board, confirmed Haldeman's statement.
The Review connected these allegations to Haldeman's departure as CEO and president earlier this week in a post to its web site.
Haldeman disputed any connection between the allegations and his change in position, according to a transcript of a media conference call held on June 12, 2008 and provided to The Dartmouth by Putnam.
"You have to understand, I had only been at the company for eight months, and the alleged activity had happened in 2001," the transcript states. "But then here within the past three or four months, as I've understood it, [Scanell] has mentioned that he thinks that maybe [former Putnam CEO] Mr. [Larry] Lasser told me during that eight month segment. I have to say that, of course, that did not happen."
The Dartmouth Review did not return requests for comment by press time.
