Insurance giant Marsh & McLennan quieted rumors that it was planning to spin off one of its major business units, including fund manager Putnam Investments.

The New York-based company admitted through a press release that a strategic review of its holdings had been launched in March and concluded on June 10. Rumors surfaced earlier this month that it was shopping Putnam, or perhaps another business, like reinsurance broker Carpenter, Kroll investigative firm, Mercer Human Resource Consulting or Mercer Specialty Consulting unit.

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