| Jan 17, 2013
| 5:00 PM
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...
| Jan 22, 2013
| 12:01 PM
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...
| May 22, 2013
| 10:07 AM
Legg Mason Inc. has lost two key employees of its Legg Mason Capital Management, including portfolio manager Mary Chris Gay.
Gay, manager of an overseas version of the subsidiary's well-known Value Trust fund, and Randy Befumo, head of research at Legg...
| May 28, 2013
Baltimore's two major mutual fund companies have joined a small but growing number of investment firms offering ultrashort-term bond funds, which may become an alternative to the traditional money market fund.
The T. Rowe Price Ultra Short-Term Bond...
| Jan 11, 2013
| 1:57 PM
Legg Mason Inc.'s stock retreated Friday, a day after shares shot up on a report that the 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....
| Jan 14, 2013
| 4:53 PM
Baltimore-based money managers T. Rowe Price and Legg Mason Inc. may offer actively managed exchange-traded funds after receiving a thumbs up from regulators.
The Securities and Exchange Commission approved Price's application earlier this month to be...
| Jan 4, 2013
| 2:15 PM
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...
| Dec 12, 2012
| 4:32 PM
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...
| Dec 13, 2012
| 5:34 AM
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...
| Apr 30, 2013
| 2:38 PM
Legg Mason Inc. reported Tuesday that it earned $29.2 million in its fourth quarter, down about 62 percent from a year earlier due to added real estate expenses.
The Baltimore-based money manager's results still beat analysts' expectations, and its stock...
| May 3, 2013
| 11:19 AM
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.
The company said the...