Business
Great-West Lifeco completes sale of Putnam Investments to Franklin Templeton
Great-West Lifeco completes sale of Putnam Investments to Franklin Templeton Canada New...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n \n \n \n Great-West Lifeco completes sale of Putnam Investments to Franklin Templeton\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n WINNIPEG, MB\n \n ,\n \n Jan. 2, 2024\n \n /CNW/ - Great-West Lifeco Inc. (\"Lifeco\") (TSX: GWO) today announced the successful completion of the sale of Putnam Investments to Franklin Resources, Inc. (NYSE: BEN), operating as\n \n Franklin Templeton\n \n , one of the world's largest independent and diversified asset managers.\n \n \n \n \n \n \n \n \n \n \"As client needs for asset management continue to evolve,\n \n Franklin Templeton's\n \n scale and breadth, together with\n \n Putnam's\n \n complementary capabilities, will drive positive outcomes for their stakeholders,\" said\n \n Paul Mahon\n \n , President and Chief Executive Officer, Great-West Lifeco. \"This transaction furthers Lifeco's strategy of building and extending strategic partnerships with best-in-class asset managers to support our clients' retirement, group benefits, and personal wealth management needs.\"\n \n \n Consistent with our previous announcement, the transaction is not expected to have a material financial impact for Great-West Lifeco at close. Further details will be provided as part of the company's year-end disclosures in\n \n February 2024\n \n .\n \n \n \n About Great-West Lifeco\n \n \n Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. We operate in\n \n Canada\n \n ,\n \n the United States\n \n and\n \n Europe\n \n under the brands Canada Life, Empower, and\n \n Irish Life\n \n . At the end of 2022, our companies had approximately 31,000 employees, 234,500 advisor relationships, and thousands of distribution partners – all serving over 38 million customer relationships across these regions.\n \n \n Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corporation group of companies...