David Glancy has joined Boston’s Putnam Investments as managing director and portfolio manager.

Glancy joined the company from Andover Capital, where he was a founding partner and portfolio manager. He will partner with Putnam’s research teams to identify opportunities across the entire capital structure, focusing on equities while also including high-yield and bank debt, the company said.

Glancy has special expertise in assessing undervalued, leveraged companies, which are companies that issue lower-quality debt or that otherwise have leveraged capital structures, according to Putnam.

Putnam said it believes the fundamental and financial opportunities, as well as the challenges, inherent in leveraged companies provide exceptional upside potential across their capital structures.

As of Jan. 31, Putnam managed $101 billion in assets.