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

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

Rating:No Plans To Sell Putnam, Says Marsh CEO Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, January 26, 2006

No Plans To Sell Putnam, Says Marsh CEO

by: Armie Margaret Lee

Is Putnam Investments on the auction block or not? The latest word is it isnít.

The chief executive of Putnamís parent company, Marsh & McLennan Cos., told Reuters that there are no plans to put the Boston-based fund firm up for sale.

"The strategy is to keep Putnam, fix Putnam and operate Putnam over the short, medium and long-term," said Michael Cherkasky on the sidelines of the World Economic Forum in Davos on Thursday.

Cherkasky added that he hopes to see positive inflows by the fourth quarter of the year.

Putnam, which has bled assets since it was implicated in a fund trading scandal in the fall of 2003, is a regular target of sale rumors.

Last month, Cherkasky hinted at the possibility of shedding businesses that arenít growing, sparking a fresh round of speculation that Putnam is for sale.

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

In the interview with Reuters, Cherkasky said the disposal strategy for some of Marsh & McLennanís small business units was almost complete and the company plans to embark on small acquisitions in specialist consultancy areas. 

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2020: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use