Legg Mason was a global investment management firm headquartered in Baltimore, Maryland. The company was acquired in July 2020 in an all-cash deal worth $4.5 billion by Franklin Templeton.
Firm recruits UBS and Raymond James advisors in Ohio and Maryland to expand wealth platform.
Osaic RIA Solutions leader, Dynasty Financial Partners co-founder takes new role.
Western Asset Management Company has seen at least $120 billion leave since the SEC announced its investigation into Ken Leech. The instance highlights key-person risk that the asset management world has been trying to get away from.
For several years, Leech allegedly favored some clients in trade allocations, at the cost of others, amounting to $600 million, according to the Department of Justice.
The fixed-income star at the Franklin Templeton-owned firm is facing scrutiny over some past trades in Treasury derivatives.
In the economic aftermath of the pandemic, some strategies performed better than others.
