He is active in supporting numerous not-for-profit and charitable causes, including The Ireland Funds, Boston Healthcare for the Homeless, the Dana-Farber Cancer Institute and Cristo Rey High School in Boston, where he serves on the board. Murphy is a board member of the Employee Benefit Research Institute, Boston College Wall Street Council, the New England Council, Colorado Inclusive Economy and a member of The Wall Street Journal CEO Council. He spent the early portion of his career at Merrill Lynch. During his time at Fidelity, he served as CEO of Veritude, LLC and as a board member of several Fidelity-owned companies. Prior to Putnam, he held executive leadership roles at Fidelity Investments in its institutional, private equity and retail businesses. Murphy served as Managing Director at Putnam Investments and was a member of the firm’s operating committee. The Denver Business Journal named him a “Most Admired CEO” in 2020.īefore his appointment as CEO of Empower, Mr. Murphy is a founding member of Inclusive Economy, a movement focused on driving diversity, equity and inclusion across the Colorado business community, and is a signatory to A Day for Democracy, a national effort to support voting rights. In 20 the firm was named “Retirement Leader of the Year,” by Pageant Media and it is regularly recognized for outstanding client service, innovative product solutions and pioneering work with financial intermediaries.Įmpower employs more than 11,500 associates and has been recognized for its commitment to diversity, inclusion and community service. Murphy’s leadership, Empower has earned multiple industry accolades. He has been interviewed by CNBC, Bloomberg News, MarketWatch, The Wall Street Journal, Barron’s, The Financial Times and many other media outlets. Murphy speaks and writes on financial topics ranging from retirement issues and public policy to investment advice and lifetime income strategies.
He meets regularly with policymakers in Washington, D.C., and has testified before Congress, the Department of Labor, the Treasury Department and the IRS. Murphy is regarded as a driving force for industry innovation and public policy reform. 1 2Ī much sought-after thought leader as an advocate for the nation’s retirement investors and the defined contribution system, Mr. Empower has assets under administration of more than $1.4 trillion and serves some 71,000 corporate, government and not-for-profit plans. In 2020, Empower acquired Personal Capital, a registered investment adviser and wealth manager. Morgan, Prudential, MassMutual, Truist Bank and Fifth Third Bank. Empower has completed several strategic acquisitions, including the retirement businesses of J.P.
Under his leadership, Empower has grown into a national leader serving working Americans across all sectors of the U.S. He was appointed as the inaugural president of Empower upon its formation in 2014 and has led the organization through a period of strong and sustained growth, positioning the firm as the go-to provider of financial services for more than 12 million Americans. Murphy brings 30 years of broad leadership experience to his role. He also serves as a board member of Great-West Life & Annuity Insurance Company and as a strategic advisor to Diagram Ventures. Murphy III is President and CEO of Empower, where he provides leadership and strategic direction for the company’s operating units: Empower Retirement, Personal Capital and Great-West Investments™.