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What is billionaire activist Nelson Peltz’s plan for Legg Mason?
The appointment on Monday of billionaire and activist investor Nelson Peltz to Legg Mason Inc.'s board of directors rekindled speculation in the industry that the asset management giant may eventually be taken private — but experts said that Legg will likely remain a publicly traded company in the near-term.
Legg Mason, despite asset dip, posts profit
Asset manager Legg Mason Inc. on Thursday posted a profit for the second quarter in contrast to a year-ago loss as it cut costs and took smaller charges.
Legg Mason shakes up ClearBridge Funds
Legg Mason Inc. today unveiled portfolio management changes in several funds run by its New York-based ClearBridge Advisors LLC unit.
Legg Mason assets up 4% in quarter
Legg Mason today reported assets under management of $656.9 billion as of June 30, up 4% from the prior quarter but down 29% from the year before.
Legg Mason’s fiscal 4Q loss beats expectations
Legg Mason Inc. today reported a net loss of $325.1 million, or $2.29 per diluted share, for the fourth quarter of the fiscal year ended March 31.
Legg Mason cuts 40 administration and support jobs
The layoffs, which did not include any investment professionals, followed a round of cuts in December in which 200 people were laid off across several departments.
Mutual fund launched by Legg Mason’s hedge fund affiliate
In what some say is a growing trend, The Permal Group Inc., a fund-of-hedge-funds affiliate of Legg Mason Inc., today launched its first mutual fund.
Legg Mason takes $610M charge for SIVs
Legg Mason Inc. said Thursday it will record a $610 million charge to reflect elimination of exposure to risky structured investment vehicles in its money market accounts.
Smith Barney ends exclusive Legg fund deal
Smith Barney's exclusive deal with Legg Mason to distribute funds run by Bill Miller has come to an end.
Outflows put Legg Mason debt rating in peril
Moody’s Investors Service has placed Legg Mason Inc.’s A3 senior debt rating on review for possible downgrade.
Legg jettisons $1.7B in SIV holdings
Baltimore-based Legg Mason now has overall exposure to SIVs amounting to $1.4 billion.
Legg’s Fetting tapped as chairman of board
Legg Mason Inc. has tapped its chief executive, Mark Fetting, to serve as chairman of the Baltimore-based money manager's board of directors.
Legg Mason Inc. pares 8% of work force
Legg Mason Inc., parent company of money managers Western Asset Management and Legg Mason Capital Management, laid off roughly 8% of its staff, or just less than 200 people, as part of a cost-cutting program in response to severe market conditions, spokeswoman Mary Athridge confirmed.
Legg to take $523 million charge
Legg Mason Inc. will take new charges to provide support for its struggling money market funds, a move that will force the company to take a loss in the fourth quarter.
Legg Mason, Lazard and Moody’s
Legg Mason Inc. and Lazard Ltd. both posted third-quarter losses today, while ratings giant Moody’s Investors Service saw profits drop.
Legg downgraded on money market funds
Moody's Investors Service announced yesterday that it has downgraded Legg Mason Inc.'s senior debt rating to A3, from A2.
