September 10, 2014 – Greenwood Village, CO – Great-West Financial®, which recently completed its acquisition of the J.P. Morgan Retirement Plan Services large-market recordkeeping business and is integrating the retirement business of Putnam Investments, today announced that Edmund F. Murphy III has been named President of the firm’s combined retirement organization.
Effective immediately, Murphy, age 52, will be based in Denver and report to Robert L. Reynolds, President and Chief Executive Officer of Great-West Financial.
Murphy, who has held a series of top executive roles in his 30-year industry career and was most recently Head of Defined Contribution at Putnam, is assuming leadership of the second largest provider in the U.S. defined contribution market with nearly 7 million participants and more than $400 billion in retirement plan assets. Under his direction, Great-West Financial will serve every segment of the employer-sponsored retirement plan market: small, mid and large-sized corporate 401(k) clients, government 457 plans and non-profit 403(b) entities, as well as private label recordkeeping clients.
In making the announcement, Reynolds explained, “Our organization has a unique opportunity to significantly raise the bar of retirement preparedness in our country by setting the direction toward stronger, sustainable results for working Americans and their employers. In Ed Murphy, we have selected an outstanding, experienced leader to take on the U.S. retirement savings challenge through inspired thinking, innovation, and a deep sense of commitment. I will be working closely with Ed and his outstanding leadership team as Great-West Financial brings a new outcome-oriented approach to meeting the needs of America’s retirement marketplace.”
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