Marsh CEO Emphatically Denies Putnam For Sale.

The article reports that Marsh & McLennan Co. CEO Michael Cherkasky emphatically denied during the company's earnings call that Putnam Investments is for sale. Marsh, which reported a fourth-quarter loss of $676 million, is cutting its quarterly dividend in half and slashing up to 2,500 jobs to pay for settlements over allegations that its insurance brokerage unit rigged bids. However, Cherkasky and company reportedly face considerable dissent from officials at Putnam who believe a breakaway would greatly help the firm, which saw clients withdraw roughly $105 billion in the 15 months since regulators unearthed illegal trading activities by its money managers.