Marsh & McLennan's chief executive officer Michael Cherkasky is to perform a "market check" to determine the value of MMC's subsidiary, Putnam Investments.
Cherkasky said: "Over the last few months there have been repeated inquiries from parties interested in either acquiring or partnering with Putnam. 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."
Putnam Investments is a money management firm, managing $180bn in assets, of which $119bn is for mutual fund investors and $61bn is for institutional accounts.
Recent Related News
750 jobs to go at MMC
Marsh UK safe from 750 MMC job cuts
MMC Q1 profit points to 'recovery'
