Baltimore money manager Legg Mason Inc. reported that clients added more than $8 billion in cash to accounts there during its recently finished fiscal year, breaking a six-year streak of client cash going the wrong way — out.
A California-based unit of Legg Mason Inc. agreed to pay more than $21 million to settle government charges that it did not properly reimburse clients for losses caused by a coding error and engineered trades between clients that cheated one of the parties.
The local United Way has named a former CEO of Legg Mason Inc. to lead its effort to raise more than $24 million for programs to improve education, financial stability and health for central Marylanders.
Baltimore-based money manager Legg Mason Inc. will be paying out about $10 million in each of the last two quarters of this year as part of severance and other expenses related to streamlining its business, according to regulatory filings
Baltimore's two major fund companies have joined a small but growing number of investment firms offering ultra short-term bond funds, which may become an alternative to the traditional money market fund.
Legg Mason Inc.'s compensation committee awarded CEO Joseph A. Sullivan options to purchase a half million shares of the company stock at $31.46 per share, the Baltimore-based money manager announced in a regulatory filing.
T. Rowe Price, which has been a fixture in downtown Baltimore since its founding 76 years ago, is considering moving its headquarters once its current lease expires in 2017, the company said Wednesday.
Legg Mason Inc. might eliminate some of its less popular funds, while at the same time try to fill gaps in its investment offerings, the chief financial officer of the Baltimore-based money manager said Tuesday.
Joseph A. Sullivan, who has served as interim leader of Legg Mason Inc. for more than four months, has been named CEO and president of the Baltimore-based money manager, the company announced this morning.
The new CEO of Legg Mason must answer questions about Legg Mason's identity, stem the flow of investors withdrawing money and assuage its affiliates to move the Baltimore money manager into the future.
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.
Legg Mason Inc. disclosed that it will take a $734 million impairment charge largely related to a drop in value of certain fund contracts, according to a document filed Tuesday with the Securities and Exchange Commission.
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.
Legg Mason Inc.'s stock retreated Friday, a day after shares shot up on a Reuters news report that 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.