F.L.Putnam Acquires $230M Salem Capital in Massachusetts

August 3, 2022

F.L.Putnam Investment Management Company, the almost 40-year-old investment and wealth management firm, said today that it had acquired Salem Capital Management, a firm in Woburn, Mass., with some $230 million in assets under management.

F.L.Putnam, which operates from several offices in New England and New York City, said that it had brought on board Salem’s co-founder Hal Rubin and its president Kim Ratcliffe, as well as one operations person. F.L.Putnam now has $5.4 billion in assets under advisement, as well as 84 employees, including 35 client advisors.

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