Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Practice Management > Building Your Business

MMC Considering Sale Of Putnam

Your article was successfully shared with the contacts you provided.

Marsh & McLennan Companies Inc. is thinking about selling Putnam Investments.

Michael Cherkasky, president of MMC, New York, has insisted for months that the company would keep all of its parts, including its insurance operations, its human resources consulting business, its investigative services business and its mutual fund business.

But, “over the last few months there have been repeated inquiries from parties interested in either acquiring or partnering with Putnam,” Cherkasky says in a statement. “Therefore, in consultation with MMC’s board, I decided it was in the interest of our shareholders to do a market check to determine the value others would put on Putnam. We have just commenced this process and have not decided to take any specific action in regard to Putnam at this time.”

MMC reported disappointing 2nd quarter results. Securities analysts responded by calling for the company to consider selling some of its parts.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.