Financial Services Industry
Industry: Email Alert RSS FeedPutnam ex-CEO gets a nice parting gift.(Reverse Spin)
Investment News, June, 2004
Byline: Frederick P. Gabriel Jr. For someone who played a big role in damaging the reputation of a large fund company, Lawrence Lasser has done all right for himself. The former chief executive of Putnam Investments LLC in Boston will pocket $78 million in a settlement related to a dispute involving his severance package.
In a regulatory filing Thursday, New York's Marsh & McLennan Cos. Inc., Putnam's parent, said the payout represents the release of deferred compensation already awarded to him. As part of the settlement, Putnam agreed to withdraw its claim that Mr. Lasser had been "terminated for cause'' in November. The company also agreed to release him from a non-compete agreement that would have barred him for six years from working for a...
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