Legg Mason

From Wikipedia, the free encyclopedia

Legg Mason, Inc.

Type	Public (NYSE: LM)
Founded	1899
Headquarters	Baltimore, MD
Key people	Mark R. Fetting, President and CEO
Industry	Asset Management
Products	Asset Management
Revenue	$ 4.343 Billion (year ending 31 March 2007)
Operating income	$ 1.043 Billion (year ending 31 March 2007)
Net income	$ 646.8 Million (year ending 31 March 2007)
Employees	4,030
Website	www.leggmason.com

Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason building (formerly the USF&G building), which, at 35 above-ground stories, is the tallest building in Maryland (and the tallest building between Charlotte and Philadelphia). Legg Mason serves a variety of clients including institutional and individual investors through three business units: Global Managed Investments, U.S. Asset Management, and International Asset Management. The firm provides investment advisory services through a diversified group of managers including Western Asset Management, ClearBridge Advisors, Legg Mason Capital Management, Private Capital Management, Royce & Associates, Brandywine Asset Management, Batterymarch Financial Management, and The Permal Group. Structured as a holding company, Legg Mason has investment offices in the UK, Brazil, Japan, Singapore, Chile, Poland, Australia, Hong Kong and the United States. The firm is among the world's largest asset managers based on assets under management with managed assets in excess of $890 billion as of September 30, 2006. Legg Mason, Inc. is a member of S&P 500. In 2006 the Legg Mason brokerage portion of the firm was bought by Citigroup while the Asset Management portion of Citigroup's firm was bought by Legg Mason making Legg Mason a pure Asset Management firm.

1 Management
2 Core areas of business
3 External links

[edit] Management

Mr. Mark Raymond Fetting, President, Chairman and Chief Executive Officer
Mr. Raymond A. "Chip" Mason: Founder
Mr. Peter Lanning Bain, Senior Executive Vice President

[edit] Core areas of business

[edit] Global Managed Investments

Global Managed Investments encompasses U.S. and international distribution, global fund administration, fund services and other related functions. Additionally, it includes the Mutual Funds division, which consists of investment management subsidiaries that derive a substantial portion of their revenues from the mutual fund business: ClearBridge Advisors, Legg Mason Capital Management, and Royce & Associates. It also encompasses the Company's branded mutual funds sold under the names of Legg Mason Funds, Legg Mason Partners Funds, Royce Funds, and Western Asset Funds.

[edit] International Asset Management

International Asset Management encompasses the Company's investment management subsidiaries based outside the U.S, consisting of Legg Mason International Equities which includes the emerging market equities team in London; the Hong Kong and China Equities team in Hong Kong and other capabilities across Singapore, Brasil and Poland.

[edit] U.S. Asset Management

U.S. Asset Management encompasses U.S.-based investment managers that provide separate account management as their principal business. This unit comprises the U.S.-based Institutional and Wealth Management divisions. Investment subsidiaries operating in this sector include Barrett Associates, Bartlett & Co., Batterymarch Financial Management, Berkshire Asset Management, Bingham Legg Advisors, Brandywine Global Investment Management, Legg Mason Investment Counsel & Trust, Legg Mason Real Estate Investors, The Permal Group, Private Capital Management, and Western Asset Management.