Putnam Investments has brought in Charles Haldeman from Lincoln National Corporation as co-head of investments alongside Steve Oristaglio, currently senior managing director and deputy head of investments at the US-based fund manager.

The addition of Haldeman, who was president and chief executive of Delaware Investments and Lincoln National Investment Companies, both owned by Lincoln National, is a serious investment for Putnam. Haldeman has 28 years experience in investment management and last year alone earned a salary of $4.8m (€4.9m) from the Lincoln National group. He worked for United Asset Management as president and chief operating officer before joining Lincoln National in 2000.