Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Bob Reynolds Takes on Ned and Abby at Their Own Game Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, May 28, 2014

Bob Reynolds Takes on Ned and Abby at Their Own Game

News summary by MFWire's editors

Let it never be said that Bob Reynolds, chief of Great-West Lifeco U.S. and Putnam Investments, doesn't think big.

In an interview with Bloomberg, Reynolds outlined his vision for taking on Fidelity in the 401(k) space.

A key part of this plan is developing scale in the record-keeping function. Reynolds' first major move in this direction, of course, was his firm's acquisition of JP Morgan's record-keeping business. This acquisition will give Reynolds' organization the ability administer 401(k)-type accounts with a combined $387 billion in assets, according to the newswire.

“I'm very hungry to be the best,…I know the business so well," Reynolds is quoted as saying in the article.

According to the article, he next stages in his plan include more lifetime income products that would combine mutual funds with annuities. One such product is planned for launch as early as this year, according to the article.

Great West and Putnam merged their retirement operations in March, as Reynolds was promoted to president and CEO of Great West, which is Putnam's parent.

Once the businesses are fully merged, Reynolds said that he plans to market Putnam investment products and Great West insurance products to 401(k) plan participants. 

Edited by: Tommy Fernandez


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

5.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use