Putnam Investments was founded in 1937 by George Putnam, who established The George Putnam Fund of Boston, one of the first balanced mutual funds.
The company flourished, and in 2000 had $400 billion in assets under management. In 2000 the company faced civil complaints from the SEC and the Massachusetts Secretary of State that portfolio managers and some clients had engages in rapid trading.
As a result, sweeping changes were made to the company by the new CEO, Charles “Ed” Haldeman and Putnam paid $110 million in fines.
In 2007 Great-West Lifeco, a subsidiary of Power Corporation of Canada, acquired Putnam Investments in a $3.9 billion deal.
Today Putnam Investments offers more than 100 mutual funds, 401(k) plans, and IRAs to over 5 million customers and has $161 billion in assets under management. The company markets its products through independent brokers, financial planners. dealers, banks, and retirement plans.
Putnam Investments has offices in Boston, London, Frankfurt, Tokyo, Sydney, Singapore, and Beijing.
Putnam InvestmentsPutnam Investments was founded in 1937 by George Putnam, who established The George Putnam Fund of Boston, one of the first balanced mutual funds.
The company flourished, and in 2000 had $400 billion in assets under management. In 2000 the company faced civil complaints from the SEC and the Massachusetts Secretary of State that portfolio managers and some clients had engages in rapid trading.
As a result, sweeping changes were made to the company by the new CEO, Charles “Ed” Haldeman and Putnam paid $110 million in fines.
History
In 2007 Great-West Lifeco, a subsidiary of Power Corporation of Canada, acquired Putnam Investments in a $3.9 billion deal.
Today Putnam Investments offers more than 100 mutual funds, 401(k) plans, and IRAs to over 5 million customers and has $161 billion in assets under management. The company markets its products through independent brokers, financial planners. dealers, banks, and retirement plans.
Putnam Investments has offices in Boston, London, Frankfurt, Tokyo, Sydney, Singapore, and Beijing.
Leave a Reply