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Rating:As Reynolds' Lieutenant Strives to Build the Retirement Shop of Choice, It's Business As Usual at Putnam Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 10, 2014

As Reynolds' Lieutenant Strives to Build the Retirement Shop of Choice, It's Business As Usual at Putnam

Reported by Neil Anderson, Managing Editor

Bob Reynolds is doubling down on the retirement plan business while the Putnam [profile] team is "really driving forward."

"It's business as usual," Reynolds, chief of both Putnam and Putnam sibling Great-West Financial, tells MFWire, pointing to Putnam's strong performance this year and over the past five.

Reynolds combined the Great-West and Putnam retirement plan businesses earlier this year, then bought the large-market J.P. Morgan retirement plan business. Today Reynolds unveiled the promotion of one his longtime lieutenants, Putnam defined contribution chief Ed Murphy, to lead the combined Great-West retirement business. The mission, Reynolds says, is to "become the firm of choice" for corporate America, government retirement plans and non-profit retirement plans.

For both Putnam and the Great-West retirement business, Reynolds says, organic growth is the name of the game. Yet buying again isn't out of the question.

"We're going to grow this business organically. That's our first and foremost goal," Reynolds tells MFWire. "We're not adverse to further acquisitions in any part of the business."

Reynolds added that the combined Great-West retirement organization is "coming to market with a product offering that's far superior to anything that's out there today."

"We want to be the bar that everyone shoots for," Reynolds says. "That's what we're working on every day." 

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