Putnam Investments history
Putnam Investments company history timeline
The firm was founded in 1937 by George Putnam who established one of the first balanced mutual funds: The George Putnam Fund of Boston.
Lawrence Lasser joined the company in 1969 and it became "one of the largest managers of mutual funds."
In 1997, Putnam Investments established a connection with Nippon Life Insurance in Osaka, Japan, and its subsidiary Nissay Asset Management Company.
The year 2000 marked the beginning of a gradual asset value decline that took Putnam's asset value from $400 billion to $192 billion.
He reduced senior management compensation to half of what it was in 2000 and adjusted portfolio managers' compensation to encourage more long term thinking and planning.
In early 2004, the company admitted to allowing its portfolio managers and some investors to market time its funds.
The acquisition of Putnam was motivated by Great-West Lifeco's 2005 decision to expand into the United States.
In 2006, 48 percent of Putnam's mutual funds scored in the top 50 percent when compared with funds in their peer group, an increase of 8 percent from two years prior.
In June 2007, two of Putnam's former managing directors agreed to each pay a $400,000 civil penalty to settle charges of improper trading of mutual fund shares according to the Securities and Exchange Commission.
The following month, Putnam received the 2007 Optimas Award for Ethical Practice in recognition of its then-recent efforts to create a more ethical company culture.
In 2008, Haldeman was replaced by Robert L. Reynolds who was named president and chief executive officer of Putnam Investments.
In 2009, according to a Putnam press release, Reynolds designed a 10-point plan and launched an effort calling for public and private collaboration to strengthen the nation's retirement system.
Rate how well Putnam Investments lives up to its initial vision.
Putnam Investments jobs
Do you work at Putnam Investments?
Is Putnam Investments' vision a big part of strategic planning?
Putnam Investments competitors
| Company Name | Founded Date | Revenue | Employee Size | Job Openings |
|---|---|---|---|---|
| MFS Investment Management | 1924 | $500.0M | 1,901 | 33 |
| The Vanguard Group | 1975 | $6.9B | 17,600 | 203 |
| Eaton Vance | 1924 | $1.7B | 1,871 | - |
| Pacific Investment Management Company LLC | 1971 | $787.9M | 2,900 | 63 |
| Neuberger Berman | 1939 | $2.8B | 2,000 | 57 |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 601 |
| Bridgewater Associates | 1975 | $399.3M | 1,500 | 9 |
| Perella Weinberg Partners | 2006 | $631.5M | 586 | - |
| Ssga | - | - | - | - |
| New York Life Insurance | 1845 | $44.1B | 11,388 | 713 |
Putnam Investments history FAQs
Zippia gives an in-depth look into the details of Putnam Investments, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Putnam Investments. The employee data is based on information from people who have self-reported their past or current employments at Putnam Investments. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Putnam Investments. The data presented on this page does not represent the view of Putnam Investments and its employees or that of Zippia.
Putnam Investments may also be known as or be related to Putnam Convertible Income-Growth Trust Inc and Putnam Investments.