Putnam Investments

That changed.

Right after the leg, we acquired Putnam.

Franklin Templeton acquired Putnam.

At that point, I was asked to be head of U.S.

Wealth Management.

To answer the question, in most cases, we did cash, maybe cash with debt.

And then in the case of the Putnam deal, we actually did a bunch of Franklin stock.

They wanted Franklin stock.

The Great West Life had realized this trend of needing to be scale, big scale manager in order to get on these platforms that they could see the consolidation.

And the problem was Putnam had great performance, but they were just subscale.

And so, you know, I think we've taken the equity team or the total assets there from like 136 billion to over 220 billion and And it's really because we're able to bring this high-performing team onto platforms that they just were too subscale to get on those platforms.

And so we did most of that deal.

They wanted to hold stock in an asset management company.

Thank you.

So John, you were working at Putnam Investments after Boston College, and training clients on the side, early mornings, evenings, weekends.

What was the moment you knew you had to go all in on fitness?

I think the moment I knew I had to go all in on fitness is that it's what I was thinking about when I was at Putnam.

Like, one of the things I talk about with athletes is in order to be a great teammate, you gotta know how to, you gotta know what your job is, and you gotta do your job.

Right.

And I don't know if that was being done at Putnam Investments, and I'm, had a great boss.

It wasn't that, but it just, I don't know if he had the power to even tell anyone, like, how to do their job in a great way-