One of the world's largest mutual fund administrators, Putnam (aka Putnam Investments) provides investment management for institutional and individual customers, offering around 80 mutual funds, as well as 401(k) plans and IRAs. It has agreements with Allstate and The Hartford to sell variable annuities. Putnam offers its products through independent brokers, dealers, financial planners, banks, and retirement plans. Founded in 1937, Putnam has more than $110 billion of assets under management in some 5 million shareholder accounts. Putnam is a subsidiary of insurer Great-West Lifeco (itself a subsidiary of Power Corporation of Canada), which bought Putnam from Marsh & McLennan for nearly $1 billion in 2007.
In an effort to improve both its sagging image and performance, Putnam hired Robert Reynolds and Walter Donovan from rival Fidelity in 2009 to be its CEO and chief investment officer, respectively. Under Reynolds, the company has undergone a restructuring, added new products (including some 15 mutual funds), and refocused on its core customer base, which includes baby boomers preparing for retirement. The company's assets under management have also stabilized, thanks in part to a rebound in the capital markets.
Headquarted in Boston, Putnam has international offices in Amsterdam, Frankfurt, London, Singapore, Sydney, and Tokyo. – less