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Legg Mason Inc. chose an insider as its new CEO, quelling speculation that the Baltimore-based money manager might be headed for a breakup that could have been bad news for the city. After a worldwide search for a new leader, Legg announced Wednesday...
The Wall Street Journal reported Monday that Legg Mason Inc. is expected to announce its new CEO as early as Wednesday and also will likely name a new independent board member. The Baltimore-based money manager has been without a permanent leader...
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...
Legg Mason Inc. said it agreed to pay $80 million for European fund manager Fauchier Partners, plus as much as an additional $56 million in the next four years if certain financial targets are achieved. Though Legg announced in December its plan to...
Tags: BNP Paribas
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...
Legg Mason Inc. is looking to sublease 78,000 square feet on three floors at its headquarters in Harbor East. The Baltimore-based investment management firm is consolidating its space, partly due to the recently announced merger of Legg Mason Capital...
Tags: Harbor East
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...
Tags: Columbia University, Bill Miller
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...
Tags: Mutual Funds, Finance
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...
Legg Mason Inc. announced Wednesday that it would accelerate a quarterly dividend that was to be paid out in January. The cash dividend of 11 cents per share will be paid out on Dec. 28, instead of Jan. 7. The Baltimore-based investment company becomes...
Tags: Credit Ratings, U.S. Congress
Baltimore-based Legg Mason Inc. announced Thursday morning it has agreed to acquire Fauchier Partners, a manager of funds of hedge funds based in Europe. The terms of the deal were not disclosed. Fauchier will be merged into Legg's subsidiary Permal, an...
Tags: Mutual Funds, Finance
Tonight, we celebrate the season with the lighting of Baltimore's Washington Monument. But unless we take needed action, we are at risk of losing this festive tradition — along with one of our city's most iconic landmarks. Sadly, the monument...
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