Putnam Investments CEO Ed Haldeman said this week that he hopes the current wave of layoffs at the company will lead to a leaner environment that is more likely to attract new assets, but analysts believe the measures are precursors for an eminent sale, sister publication American Banker reports.

Michael Cherkasky, chief executive officer at Marsh & McLennan , Putnam’s parent company, denied allegations that its star asset management unit is on the block, and Haldeman, in an interview with American Banker, put a brave spin on a long series of setbacks tied to the company’s regulatory troubles.

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