Putnam Investments, after being hit by the market-timing scandal, poor performance and the loss of 75% of its assets, is “starting to turn around,” Great-West Lifeco CEO Allen Loney told Bloomberg. Great-West acquired Putnam from Marsh & McLennan Cos. for $3.9 billion in 2007.

“We’re starting to see some signs of progress,” he said. “What we’ve got to do is keep this up for quite some time to achieve what we’re aiming for with this company.”

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.