CFO Pete Nachtwey comments about cost-cutting came in response to a question at a Citigroup financial conference in Boston.
Meanwhile, Legg continues to fill gaps in its investment offerings, launching 15 funds since last April and seeking to add active exchange-traded funds and alternative investments.
In 2010, Legg launched a cost-savings program that saved more than $140 million annually. That program also eliminated about 800 positions at the corporate level, leaving about 1,000 staffers there. "We feel we're at the right place at that level," he said.
The company employs about 3,000 people spread among 32 offices worldwide. "Do we need to be in 32 offices?" Nachtwey said. In recent months, Legg began downsizing some of its office space, a move that will save the company $10 million annually, he said.
Nachtwey's comments come three weeks after Legg named Joseph A. Sullivan as its CEO and president. The company expects to hold an investor day possibly in June in New York, where Sullivan is expected to lay out his plans for Legg.
Legg's stock rose to near a 52-week high, closing Tuesday at $29.18 a share, up 81 cents each.