GREENWOOD VILLAGE, Colo. & BOSTON--(BUSINESS WIRE)--Great-West Financial today announced the appointment of Scott C. Sipple as the president of Great-West Investments, where he will provide leadership of the firm’s efforts to identify, create and deliver investment, retirement income and advice solutions for the retirement market. The appointment is effective immediately.
Sipple joins Great-West from Putnam Investments in Boston, where he served as Head of Global Investment Strategies. Putnam veteran Michael Wands, with over 30 years of industry experience, will succeed Sipple in the Putnam leadership role.
Great-West Financial and Putnam Investments are the U.S. operating companies of Great-West Lifeco, both of which are led by Robert L. Reynolds, who serves as President and Chief Executive Officer at each company. Sipple and Wands will report directly to Reynolds at their respective firms.
“Since its formal establishment in 2016, Great-West Investments has been a great growth story — and with Scott’s leadership we will continue that expansion,” said Reynolds. “The breadth of Scott’s experience uniquely qualifies him for his new role in which he will lead the creation and delivery of solutions employed by plan sponsors and their advisors to the benefit of individual savers.”
With more than $100 billion under management or supervision in mutual funds, managed accounts, capital preservation products, and retirement income solutions today, Reynolds said that Great-West Investments is in a position to enhance its offerings by fortifying its distribution capabilities, offering solutions through its sub-advised investment platform and creating value-added products for clients.
“The combined strengths of Great-West Investments, Empower Retirement and Great-West’s insurance and annuity businesses create a significant, and in some ways exclusive, opportunity to better serve the needs of millions of Americans,” explained Reynolds. “Our clients and prospects will be the beneficiaries of the great, combined strength of our collective work. I’m looking forward to this opportunity.”
A graduate of Dartmouth College, Sipple joined Putnam in 2009 and has worked in the investment industry since 1985. He has 30 years of industry experience in numerous senior leadership roles on both the buy and sell sides. Sipple began his career in equity capital markets and trading, ultimately heading capital markets for a large regional investment bank. His responsibilities over the years have included global portfolio strategy, product management, managed accounts and institutional banks and strategic relationships.
Michael Wands: Taking the Reins at Putnam Global Investment Strategies
Michael Wands, who joined Putnam in 2008, will replace Sipple as Head of Global Investment Strategies (GIS) at Putnam Investments, effective immediately, responsible for overseeing teams focused on equity, fixed income and global asset allocation products for the firm’s retail, institutional and retirement businesses.
The experienced group of GIS professionals to be led by Wands work closely with Putnam’s Investment and Global Distribution teams to help drive the delivery of product solutions and thought leadership regarding product positioning, competitive analysis and new product opportunities for the marketplace.
“Mike brings enormous investment management and client-focused experience to his new role leading a highly talented team that serves as a powerful bridge between Putnam’s product manufacturing and distribution capabilities,” Reynolds said. “With the help of the superb work and expertise of our Global Investment Strategies team, Putnam is poised to continue to be at the forefront of providing thoughtful, innovative investment strategies for an evolving marketplace.”
Previously, Wands oversaw all activities for the Putnam GIS Fixed Income team. Since beginning his career on Wall Street in 1986, he has risen through a series of jobs in the investment management industry of increasing responsibility, including serving as the Head of Fixed Income North America for State Street Global Advisors from 2003 to 2008. Wands is a graduate of Rensselaer Polytechnic Institute.
About Great-West Investments
From its headquarters in Greenwood Village, Colorado, Great-West Investments creates and delivers investment solutions for investors, advisors and the retirement market. Great-West Investments includes Great-West Funds, Inc., Great-West Capital Management, LLC, and Advised Assets Group, LLC, the latter two being registered investment advisers. Great-West Investments has more than $100 billion under management or supervision in mutual funds, managed accounts, capital preservation products, and retirement income solutions. For more information, please visit GreatWest.com.
About Great-West Financial
Established over 100 years ago, Great-West Financial’s offerings range from investments, life insurance, annuities and executive benefits products marketed under the Great-West Financial brand to retirement savings products and services provided by Empower Retirement, the nation’s second-largest retirement plan record keeper by participants.*
*Pensions & Investments, April 2017
About Putnam Investments
Founded in 1937, Putnam Investments is a global money management firm with 80 years of investment experience. At the end of September 2017, Putnam had $168 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Tokyo, Singapore and Sydney. For more information, visit putnam.com.