by The MFWire.com's
sister publication The 401kWire
last Friday, Mercer
and Putnam Investments
are now free to court their common defined contribution clients after their non-solitication agreement ended on December 31.
Previously, the two had agreed not to solicit business from a pool of 400-plus common clients, for whom Mercer serves as recordkeeper and Putnam serves as the provider
of relationship management and communications services.
In March 2009, Putnam and Mercer decided to go after new business separately, but renewed their relationship for existing clients. That relationship will last through the end of this year, though the non-solicitation pact expired at the end of 2010.
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