MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, January 14, 2020 Reynolds Hires a Retail Chief Bob Reynolds has brought back a familiar Putnam [profile] veteran to fill Bill Connolly's shoes.
Sipple most recently served as president of Great-West Investments, the investment subsidiary of a giant retirement plan recordkeeper, Empower Retirement. (Empower and Putnam are sister companies.) Ed Murphy, president and CEO of Empower, did not immediately return a call for comment. "We haven't made that announcement yet," on how Sipple's duties will be handled, an Empower spokesman tells MFWire. At Putnam, Reynolds confirms that he did a search internally and externally before deciding on Sipple. "Scott was the best," Reynolds tells MFWire. "The organization's very excited that Scott's coming home ... What he brings to the organization is exactly what we need right now." Reynolds adds that he's "quite pleased" with Putnam's positive retail flows in recent years. "We have a tremendous amount of momentum, and I think Scott will capitalize on that," Reynolds says. "The retail business is changing ... For some time we've invested heavily in technology, data, electronic distribution." An alumnus of Darmouth, Sipple worked at AllianceBernstein and (like Reynolds) Fidelity before joining Putnam in 2009 as head of strategic relationships. In 2012, he rose to head of investment product management and development, and he later served as head of global investment strategies. In 2017, when Reynolds still led Putnam and Empower's parent, Great-West Financial, he appointed Sipple as head of Great-West Investments. Printed from: MFWire.com/story.asp?s=60755 Copyright 2020, InvestmentWires, Inc. All Rights Reserved |
