Great-West Lifeco Inc T.GWO

Alternate Symbol(s): GWLIF | T.GWO.PR.G | GWLPF | GRWTF | T.GWO.PR.I | T.GWO.PR.L | GRWLF | T.GWO.PR.H | T.GWO.PR.M | T.GWO.PR.N | T.GWO.PR.P | T.GWO.PR.Q | T.GWO.PR.R | T.GWO.PR.S | T.GWO.PR.T | T.GWO.PR.Y

Financial Services Insurance - Diversified

Great-West Lifeco Inc. is an international financial services holding company. The Company has interests in life insurance, health insurance, retirement and investment services, asset management and reinsurance businesses. Its segments include Canada, United States, Europe, and Capital and Risk Solutions. It operates in Canada, the United States and Europe under the brands Canada Life, Empower, and Irish Life. It operates through its subsidiaries, including The Canada Life Assurance Company (Canada Life), and Empower Annuity Insurance Company of America (Empower). Canada Life provides insurance and wealth management products and services in Canada, the United Kingdom, the Isle of Man and Germany, and in Ireland through Irish Life. Empower provides retirement plans.

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Great-West Lifeco Inc > GWO sale of Putnam Investments to Franklin Templeton

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Post by junglejameson May 31, 2023 9:09am

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Post# 35472033

GWO sale of Putnam Investments to Franklin Templeton

- at long last GWO structures a deal to distance itself from this terribel investment. Now we'll see if this new deal works any better.

Great-West Lifeco has agreed to sell Putnam Investments to Franklin Templeton, a leading at-scale and diversified global asset manager with a broad range of investment and distribution capabilities
The transaction unlocks the value of Putnam Investments and facilitates the continued focus of Lifeco's U.S. strategy on retirement and personal wealth
Great-West Lifeco will hold a 4.9% interest in Franklin Templeton on a long-term basis and will retain its controlling interest in PanAgora, a leading quantitative asset manager, complementing its ownership in other North American and European asset managers
Great-West Lifeco to allocate initial US$25 billion of AUM to Franklin Templeton