Michael Cherkasky, chief executive of Marsh & McLennan, has indicated he is still "considering all options" for the group's struggling fund management business, Putnam Investments, including scrapping an agreed sale to a Canadian financial services group.

MarshMac agreed to sell the unit to Canada's Power Financial Corporation in a deal worth almost $4bn (€3.8bn) at the end of last year. The deal has been agreed in principle but has yet to be ratified.