Legg Mason plans to close a deal to restructure $650 million in debt this month, a move designed to lock in favorable interest rates for the long term while taking advantage of the market's sustained appetite for corporate bonds.
Research labs closed by pharmaceutical giant Pfizer dot the country. Maryland officials don't want the state to join that list, so Pfizer's proposal to buy AstraZeneca — which employs 3,100 in the state — has prompted local angst.
Baltimore money manager T. Rowe Price said Thursday that net income rose nearly 26 percent in the first three months of the year, compared with a year earlier, as revenue from investment advisory fees grew by more than $120 million.
Sysco Corp will buy US Foods Inc., a former Columbia-based company, for about $3.5 billion from its private equity owners in a deal that will combine the top two U.S. food distributors and create a company commanding at least a quarter of the $235 billion North American market.
Take a look at the brochures for most wedding venues and, chances are, you¿ll see the traditional bride and groom. But not at the Four Seasons, located in Baltimore¿s Harbor East neighborhood. The four-star luxury hotel has some new brochures that include same-sex couples.
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.
T. Rowe Price has a reputation as a place where portfolio managers can spend their entire careers. But during 12 weeks this year, three fund managers left the Baltimore-based investment company or announced plans to do so.
Mayo A. Shattuck III, who helped sell two Baltimore institutions to out-of-state concerns and ran the region's energy firm for a volatile decade, has retired from the parent company of Baltimore Gas and Electric Co.
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.
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.
Maryland's ratepayer advocate is objecting to Exelon Corp.'s proposed buyout of Constellation Energy Group, telling federal regulators that the combined company would have too much control of electricity prices on the grid that serves much of the Mid-Atlantic region.
Constellation Energy Group CEO Mayo A. Shattuck III and other top executives of the Baltimore company are eligible to receive more than $36 million in cash severance and previously-owned incentive awards if the proposed merger with Chicago-based Exelon Corp. is successful.