Manoj Singh
About Manoj P. Singh
Independent Trustee of Putnam Premier Income Trust (PPT) since 2017; born 1952. Former Chief Operating Officer and Global Managing Director at Deloitte Touche Tohmatsu, Ltd. (until 2015), serving on the Deloitte U.S. Board and boards of Deloitte member firms in China, Mexico, and Southeast Asia. Current external roles include director-level positions at ReNew Energy Global Plc and DXC Technology; he also serves with Abt Associates, Carnegie Mellon University, Pratham USA, and Altimetrik’s advisory board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte Touche Tohmatsu, Ltd. | Chief Operating Officer; Global Managing Director | Until 2015 | Served on Deloitte U.S. Board and boards of member firms in China, Mexico, SE Asia |
External Roles
| Organization | Role | Type | Notes |
|---|---|---|---|
| ReNew Energy Global Plc | Director | Public company | Renewable energy company |
| DXC Technology | Director | Public company | Global IT services and consulting |
| Abt Associates | Director | Private | Global research firm in health, social, environmental policy |
| Carnegie Mellon University | Trustee | Non-profit/Academic | University trustee |
| Pratham USA | Director | Non-profit | Education-focused organization |
| Altimetrik | Advisory Board Member | Private | Business transformation and technology solutions |
Board Governance
- Committees:
- Audit, Compliance and Risk Committee: Chair; designated “audit committee financial expert.” Committee members are independent under SEC Rule 10A-3 and NYSE standards . The Committee’s annual report is signed by “Manoj P. Singh (Chairperson)” .
- Pricing Committee: Chair; membership includes Independent Trustees and two “interested” trustees (Reynolds, Trust), adding oversight complexity while retaining independent chair leadership .
- Executive Committee: Member; ensures Board can act when full meetings are not feasible and coordinates Board priorities with Franklin Advisers .
- Investment Oversight Committee A: Member; reviews investment performance and strategies with Franklin Advisers .
- Independence: The Audit, Compliance and Risk Committee is comprised entirely of Independent Trustees under SEC and NYSE definitions; Singh is designated an audit committee financial expert .
- Attendance: In calendar 2024, each Trustee attended at least 75% of Board and applicable committee meetings; the Board met 12 times, ACRC 13, Executive Committee 1, IOC A 5, IOC B 5, Pricing 8; Trustees did not attend the last annual shareholder meeting (represented by independent staff/counsel) .
Fixed Compensation
Year-ended December 31, 2024 (Putnam funds complex)
| Component | Amount | Source |
|---|---|---|
| Total compensation from Putnam funds complex | $407,000 | |
| Aggregate compensation from PPT (Putnam Premier Income Trust) | $1,574 | |
| Aggregate compensation from Putnam Managed Municipal Income Trust (PMM) | $1,266 | |
| Aggregate compensation from Putnam Master Intermediate Income Trust (PMIM) | $712 | |
| Aggregate compensation from Putnam Municipal Opportunities Trust (PMO) | $1,581 | |
| Estimated annual benefits from Putnam funds complex upon retirement | N/A |
- Notes: Includes additional compensation for service as Chair of the Audit, Compliance and Risk Committee . Independent Trustees receive an annual retainer, per-meeting fees, and reimbursement of expenses; fees are periodically reviewed by the Board Policy and Nominating Committee to ensure appropriateness relative to responsibilities and peer complexes .
Performance Compensation
| Metric | Status | Source |
|---|---|---|
| Equity awards (RSUs/PSUs) | Not disclosed/none for Independent Trustees | |
| Stock options | Not disclosed/none for Independent Trustees | |
| Performance-linked cash compensation (bonus) | Not disclosed/none for Independent Trustees | |
| Clawbacks / Change-of-control provisions | Not disclosed for Trustees | — |
Other Directorships & Interlocks
| Company | Relationship to PPT | Potential Interlock/Exposure |
|---|---|---|
| ReNew Energy Global Plc | External directorship | No related-party transactions disclosed in proxy; interlocks not indicated |
| DXC Technology | External directorship | No related-party transactions disclosed in proxy; interlocks not indicated |
Expertise & Qualifications
- Financial oversight and audit expertise: Designated audit committee financial expert; chairs ACRC overseeing financial statement integrity, auditor independence, compliance, and dividend/distribution policies .
- Valuation and pricing oversight: Chairs Pricing Committee, overseeing fund asset valuation policies and fair value determinations .
- Global operating and governance experience: Senior leadership at Deloitte with multinational board service .
Equity Ownership
| Fund | Dollar Range of Shares Owned | Fund Shares Beneficially Owned |
|---|---|---|
| PPT (Putnam Premier Income Trust) | $1–$10,000 | 276 |
| PMM | $1–$10,000 | 171 |
| PMIM | $1–$10,000 | 313 |
| PMO | $1–$10,000 | 101 |
| Aggregate dollar range in all Putnam funds overseen | Over $100,000 | — |
- Ownership concentration: As of March 1, 2025, each Trustee and the officers/Trustees as a group owned less than 1% of each fund’s outstanding common shares; no preferred shares owned by current Trustees (PPT and sister funds) .
Insider Trades
| Filing Date | Transaction Date | Type | Shares | Price | Post-Transaction Ownership | Link |
|---|---|---|---|---|---|---|
| 2023-06-06 | 2023-06-05 | Open market purchase | 276 | 3.6389 | 276 | https://www.sec.gov/Archives/edgar/data/827773/000170162123000004/0001701621-23-000004-index.htm |
Governance Assessment
- Strengths:
- Independent leadership across key risk and financial oversight bodies; Singh chairs ACRC and Pricing Committee and is designated an audit committee financial expert, underpinning board effectiveness on financial reporting, valuation and compliance .
- Demonstrated engagement: ≥75% attendance in 2024 with substantial committee activity (e.g., ACRC 13 meetings; Pricing 8), indicating active oversight cadence .
- Transparent compensation: Cash-based retainer/meeting fee structure disclosed with added Chair compensation; no equity awards, minimizing complex pay arrangements for trustees .
- Watch items:
- Pricing Committee includes “interested” trustees among members (e.g., Reynolds, Trust). While Singh’s independent chair role mitigates risk, mixed committee composition warrants continued monitoring for potential conflicts in valuation oversight .
- Ownership alignment is modest at the individual fund level (PPT holding: 276 shares; <$10k dollar range) though aggregate across the Putnam complex is “Over $100,000”; trustees as a group hold <1% of outstanding common shares, limiting direct economic alignment with PPT shareholders .
RED FLAGS: None identified in proxy disclosures regarding related-party transactions involving Singh; Section 16 compliance statements for sister funds indicate timely insider filings, and PPT proxy shows no adverse compliance notes. Continue monitoring committee compositions and any future related-party disclosures .