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Putnam Investments is an investment management firm founded in 1937 by George Putnam, who established one of the first balanced mutual funds, The George Putnam Fund of Boston.
Franklin Resources, Inc. is an American multinational holding company that, together with its subsidiaries, is referred to as Franklin Templeton; it is a global investment firm founded in New York City in 1947 as Franklin Distributors, Inc. It is listed on the New York Stock Exchange under the ticker symbol BEN, in honor of Benjamin Franklin ...
On May 31 2023, Great-West Lifeco announced that Franklin Templeton Investments would acquire Putnam Investments for $925 million. Putnam Investments subsidiary, PanAgora Asset Management would not be included in the acquisition.
PanAgora was directly owned by Putnam Investments which was owned by Great-West Lifeco and ultimately owned by Power Financial. [5] On May 31, 2023, Great-West Lifeco announced that Franklin Templeton Investments would acquire Putnam Investments for $925 million.
After serving more than a century of expansion and a profound evolution of service offerings, the modern iteration of Empower was launched in 2014, when the retirement businesses of Great-West Life combined the record-keeping services of Great-West Financial, JPMorgan Chase, and Putnam Investments. [9]
Marsh & McLennan Companies, Inc., doing business as Marsh McLennan, is a global professional services firm, headquartered in New York City with businesses in insurance brokerage, risk management, reinsurance services, talent management, investment advisory, and management consulting. [3] Its four main operating companies are Marsh, Guy ...
By early November, investigations led to the resignation of the chairmen of Strong Mutual Funds and Putnam Investments, both major mutual fund companies. In the case of Strong, the chairman Richard Strong was charged with market-timing trading involving his own company's funds.
The company was founded in 1980 as United Asset Management (UAM) by Norton Reamer, who previously had served as the CEO of Putnam Investments. [1] [2] The company was the first major firm with a business model that consisted of purchasing a number of money management firms. [3]