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George Putnam III Elected to the MBL Board of Trustees
George Putnam, III, President of New Generation Advisers, Inc., was elected to the MBL Board of Trustees in their February 2nd meeting. Putnam graduated from Harvard College in 1973, and in 1978 graduated from the joint JD-MBA (law and business) program at Harvard.
He then joined the law firm of Dechert Price & Rhoads (now Dechert LLP) in Philadelphia, where he practiced corporate, securities and environmental law for seven years. While at Dechert, George spent two years in the firms office in London, England.
Early in his legal career, in 1979-1980, George worked extensively on the reorganization of the bankrupt Reading Railroad. This was the genesis of his interest in bankruptcies and turnarounds. He has studied and invested in this field ever since.
In early 1986, George left the practice of law to start New Generation Research, Inc. New Generation, based in Boston, produces five publications, all relating to bankruptcies and turnarounds:
The Turnaround Letter, a newsletter for individual investors;
Bankruptcy Week, a weekly newsletter covering major bankruptcy events;
The Bankruptcy DataSource, an institutional research product;
The Distressed Company Alert, a weekly fax service, and
The Bankruptcy Yearbook & Almanac. The companys website,
www.bankruptcydata.com, provides extensive data on bankruptcies.
In 1990, New Generation Advisers, Inc. launched a hedge fund to invest in distressed securities. The company currently manages more than $900 million, all in distressed securities and similar turnaround situations.
George is a nationally recognized expert in bankruptcy investing. He is frequently quoted in business publications such as the
Wall Street Journal. He has appeared on a number of television programs, including
Wall Street Week with Louis Rukeyser.
Since 1984, George has served as a Trustee of the various funds in the Putnam Group of mutual funds. The Putnam Group, which was founded by Georges grandfather in 1937, consists of approximately 100 funds with more than $100 billion in assets.
George is also director of the Boston Family Office, which provides investment management services to individuals and families. He serves on the board of trustees of St. Marks School (where he was the chair for seven years) and the Marine Biological Laboratory in the Class of 2011. He was formerly the treasurer of the Sea Education Association and chair of the investment committee of the Massachusetts Audubon Society.