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.

Anuj Gangahar in New York

Marsh & McLennan

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The hedge-fund founder is asking triple what he paid for the Bali-inspired Manalapan estate in 2017.

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The announcement comes as USS Investment Management said it won’t bid for the property firm.

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Lasser lands $78m payout from Putnam

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