Putnam Investments likes to attribute its considerable success to teamwork. For better or worse, the company's fortunes do not rest disproportionately in the hands of any single employee.

But bankers and those in and around the mutual fund business say Putnam, the dominant seller of funds through banks, is going to have a heck of a time replacing Bill Shiebler.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.