The announcement this week that Marsh & McLennan Chairman and CEO Jeffrey W. Greenberg had resigned touched off conflicting feelings of relief and sadness for the firm’s mutual fund unit, Putnam Investments, The Boston Globe reports.

Obviously, the relief stemmed from the fact that both parent and child company have come under intense scrutiny in separate scandals over the past year, and Greenberg’s ouster at least temporarily tempered some of that. But the sadness comes from Putnam’s belief that Greenberg was its top ally among Marsh executives, and now that he is gone, there is some concern about how the two companies’ relationship will continue.

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