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Rating:Marsh Says No Sale, Again Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, June 10, 2005

Marsh Says No Sale, Again

by: Theresa Sim

Is Putnam for sale or isn't it? The latest official line from Marsh & McLennan says no, once again.

In a Friday release, Marsh officials said they have finished a "strategic review" of several of its business units and has decided to keep them all.

The businesses reviewed include Putnam Investments, as well as Marsh, Guy Carpenter, Kroll, Mercer Human Resource Consulting and Mercer Specialty Consulting.

Marsh spokeswoman Barbara Perlmutter said the just-finished strategic review was an internal review, and that no external advisors were hired in connection with it.

"The focus of MMC is to operate these businesses to provide superior service and advice to clients and to deliver value to its shareholders. The company has no plans to sell or spin off any of these businesses," the release described Michael Cherkasky, the CEO of Marsh, as saying.

Officials described the review as including Marsh's "principal businesses."

The Boston Globe reported last week that Marsh had hired Goldman Sachs and Citigroup for a review of Putnam Investments and its human resources and consulting businesses.

Other than a previously announced possible sale of its strategic wholesale brokerage business, Perlmutter said that Marsh is not considering the sale of any other unit, principal or otherwise, at this time.  

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