| Aug 7, 2013
| 8:47 AM
Legg Mason Inc. announced Wednesday it would be shutting down its London-based emerging markets boutique and returning money to investors.
Esemplia Emerging Markets manages $500 million in assets, not large enough to keep operating, Legg said. The firm,...
| Jun 12, 2013
| 3:34 PM
The compensation of Legg Mason Inc.'s CEO and chief financial officer more than doubled over the year that ended March 31, according to a proxy statement filed Wednesday with regulators.
CEO Joseph A. Sullivan, who took the helm of the Baltimore-based...
| Jun 6, 2013
| 7:42 AM
Legg Mason Inc. has expanded its board of directors, adding two independent members, the Baltimore based money manager announced Thursday.
Joining the board are John V. Murphy, a formerly of Korn/Ferry International, and John H. Myers, a retired...
| May 22, 2013
| 10:07 AM
Legg Mason Inc. has lost two key employees of its Legg Mason Capital Management, including portfolio manager Mary Chris Gay.
Gay, manager of an overseas version of the subsidiary's well-known Value Trust fund, and Randy Befumo, head of research at Legg...
| May 28, 2013
Baltimore's two major mutual fund companies have joined a small but growing number of investment firms offering ultrashort-term bond funds, which may become an alternative to the traditional money market fund.
The T. Rowe Price Ultra Short-Term Bond...
| Feb 1, 2013
| 3:54 PM
Legg Mason Inc. reported Friday a $453.9 million loss for the third quarter, following a previously announced $734 million writedown of certain assets.
On a per-share basis, the Baltimore-based money manager lost $3.45. For the corresponding quarter a...
| Feb 8, 2013
| 5:33 PM
After more than four months without a permanent leader, Legg Mason Inc.'s search for a new CEO might finally be near the end.
It probably can't come soon enough for employees and investors who have lived through months of uncertainty.
"The longer it...
| Jan 17, 2013
| 5:00 PM
Legg Mason Inc. plans to lay off an undisclosed number of employees as it folds its once high-profile Legg Mason Capital Management unit in Baltimore into a much larger investment division based in New York.
Capital Management rose to fame under star...
| Jan 22, 2013
| 12:01 PM
Legg Mason Inc. will take a $734 million impairment charge largely related to a drop in value of certain fund contracts, the Baltimore-based money manager disclosed Tuesday in a filing with the Securities and Exchange Commission.
Last month, Legg...
| Jan 11, 2013
| 1:57 PM
Legg Mason Inc.'s stock retreated Friday, a day after shares shot up on a report that the company's board rejected — at least for now — a proposal by senior managers at its affiliates and private equity investors to take the company private....
| Jan 14, 2013
| 4:53 PM
Baltimore-based money managers T. Rowe Price and Legg Mason Inc. may offer actively managed exchange-traded funds after receiving a thumbs up from regulators.
The Securities and Exchange Commission approved Price's application earlier this month to be...
| Jan 4, 2013
| 2:15 PM
Legg Mason Capital Management's chief investment strategist, Michael J. Mauboussin, resigned as of Jan. 2, said Mary Athridge, Legg Mason Inc.'s spokeswoman.
Mauboussin's resignation is not a surprise, and he's expected to announce his plans in the...