Lasser lands $78m payout from Putnam

Lawrence Lasser, former chief executive of Putnam Investments, has won a $78m (€64.4m) severance payout following his ousting in the wake of the US mutual fund trading scandal.

Lasser left Putnam, owned by Marsh & McClennan, last November after the firm was sued by Massachusetts regulators and the US Securities and Exchange Commission for allegedly allowing improper trading of some of its funds.

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