Power Financial Corp.
, the Montreal-based company whose empire includes Boston fund firm Putnam Investments
, is looking at deals to expand its insurance and asset management businesses,
quotes Power CEO Jeffrey Orr
"We're always looking at acquisitions," Orr told reporters on Tuesday. "We are looking in our chosen areas, in our chosen strategies," including asset management in the U.S. and group insurance in the U.K.
Power Financial unit Great-West Lifeco
purchased Putnam from Marsh & McLennan for $3.9 billion in 2007.
In an interview published in the
Globe and Mail
on Tuesday, Great-West Lifeco CEO Allen Loney
said Great-West would likely be in better shape had it waited a year before buying Putnam (see
"Would we rather have bought this at another time? Probably," said Loney, whose predecessor Raymond McFeetors pulled the trigger on the Putnam purchase.
But Loney also said that the turnaround strategy is beginning to show results.
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