Marsh & McLennan (MMC) said it would not sell off any company subsidiaries.

In the aftermath of Spitzer's investigation, the company launched an internal review of its structure, sparking rumours of a mass sell off.

Yesterday MMC chief executive Michael Cherkasky announced he would not put the companies up for sale.

MMC would keep control of insurance broker Marsh, reinsurance intermediary Guy Carpenter, risk services firm Kroll, investment advisor Putnam Investments, Mercer Human Resource Consulting and Mercer Specialty Consulting.

Instead, Cherkasky said that the focus of MMC is to operate these businesses to provide superior service and advice to clients and to deliver value to its shareholders.

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