The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Marsh Sends a Mixed Signal Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, December 07, 2005

Marsh Sends a Mixed Signal

by: Armie Margaret Lee

Marsh & McLennan, Putnam Investments’ parent company, appears to be having a change of heart. The insurance broker has reportedly started to shop the Boston-based fund firm.

Six months ago, the New York-based firm shot down the idea of selling any of its big subsidiaries. Yesterday, however, it hinted that it was open to such a possibility, according to a Boston Globe report.

"We will evolve this business," CEO Michael Cherkasky said at an investment conference in New York. "This business will not look the same. It will not have the same components five years from now that it does today."

Although Cherkasky didn't identify which business units could be up for sale, at one point during his presentation, he declared that Putnam has to be fixed.

Marsh & McLennan has several other businesses in its fold, including a huge insurance broker and a risk consulting company. But Putnam emerges as a possible candidate for sale because it doesn’t tie in well with other subsidiaries, and it has been posting negative growth, according to Stanley Nabi, vice chairman of Silvercrest Asset Management Group, which owned roughly 126,000 Marsh shares in September.

Putnam has been a regular target of sale rumors. The most recent attempt made by Marsh to quash speculation that a sale is in the offing occurred in June. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use