“The first order of business was, admittedly, to turn around the mutual funds. I came from Fidelity, clearly a rival, and Putnam had had those problems after 2003. I was hired after Power Corporate of Canada purchased Putnam for the express purpose of doing this, but we’re more than mutual funds. We’re a three-legged stool: mutual funds are one leg, the 401(k)/rollover business is one, and then there is the institutional asset management business.”
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