Legg Mason

Legg Mason
Public
Traded as NYSE: LM
Industry Asset management
Founded 1899
Headquarters Baltimore, United States
Key people
 Joseph Sullivan,
President & Chief Executive Officer
Peter "Pete" H. Nachtwey,
Chief Financial Officer
Terence Johnson,
Head of Global Distribution
Jennifer Murphy,
Chief Administrative Officer
Thomas Merchant,
General Counsel
Thomas K. Hoops, Head of Business Development
Products Asset Management
AUM US$708 billion (as of 30 September 2014)
Number of employees
 3,100
Website leggmason.com
Legg Mason Headquarters in Baltimore

Legg Mason, Inc. (NYSE: LM) is an American-based global investment management firm with a focus on asset management. Legg Mason offers products in equities and fixed income, as well as domestic and international liquidity management and alternative investments (via a funds-of-hedge-funds manager).

Founded in 1899 as a brokerage firm in Baltimore, Maryland, Legg Mason has since become the 20th largest asset manager in the world, serving individual and institutional investors on six continents. As of September 30, 2014, Legg Mason's assets under management aggregated to $708 billion.[1]

Legg Mason operates using a multi-manager business model: each of the company’s subsidiaries, which form a diverse group of asset managers, specializes in a segment of the asset management industry and operates with investment autonomy.[2] Legg Mason provides global distribution and invests in growth through core strategic services including capital allocation for product development, investing in our existing affiliates and making new acquisitions.

History

Introduction

Legg Mason's roots can be traced to the founding of two brokerage firms: the first, Mackubin & Company (later Legg & Company), was founded in Baltimore by George Mackubin in 1899. The second, Mason & Company, was founded in Newport News, Virginia, by Raymond A. Mason in 1962. In 1970, the two firms merged to become Legg Mason & Company, basing its headquarters in Baltimore.

Timeline

Management

Business overview

Legg Mason acts through its subsidiaries to provide investment management and related services to its clients, which include institutions as well as individuals. Under the company's multi-manager model, each subsidiary operates with investment autonomy, following its own investment philosophy and implementing its own process.

List of Principal Subsidiaries

Western Asset Management

ClearBridge Investments

The Permal Group

Brandywine Global

Royce & Associates

QS Investors

Corporate citizenship

Legg Mason has a corporate citizenship program with programs focusing on philanthropy, environment, community, diversity, and inclusion. It also allows clients the opportunity to customize their portfolios in order to reflect their environmental, social, and governance values.[1]

Philanthropy

Legg Mason supports community efforts philanthropically through its Legg Mason Charitable Foundation. The firm supports programs in Education, Health and Human Services, Civic/Community Development, and the Environment. Some examples include:

Interior of the Enoch Pratt Free Library

Community

Legg Mason promotes several corporate volunteerism programs throughout the year, encouraging its associates to lend their time and talent. These community programs include:

Legg Mason employees also participate in various community events throughout the year, such as the Komen Race for the Cure, the JPMorganChase Run/Walk in Central Park, and Dragon Boat races in Baltimore, among others.

Environment

In addition to providing its employees with environment-related volunteering opportunities, Legg Mason also implements several corporate ESG initiatives, such as:

Diversity and inclusion

An equal opportunity employer, Legg Mason is committed to providing a diverse and inclusive culture. The firm promotes a diverse culture through recruitment and retention programs, as well as ongoing training and mentoring. Legg Mason also encourages diversity in its client relationships, in its industry, and in its community.

In addition, Legg Mason has an officer-led Diversity and Inclusion Leadership Council which “helps to foster a working environment that promotes respect and values acceptance of all regardless of race, gender, age, nationals origin, sexual orientation, religion, socio-economic status, education, job level, disability or marital status. The Council also helps to serve as a forum to share ideas and make recommendations to promote diversity within the firm.” [3]

Headquarters

Legg Mason's headquarters are located in the 100 International Drive building in Baltimore, Maryland, and were formerly located at 100 Light Street in Baltimore, Maryland.

For the current headquarters at 100 International Dr., see Legg Mason Tower.
For the 100 Light St. former headquarters, see Transamerica Tower (Baltimore).

References

  1. ↑ 1.0 1.1 "Legg Mason Corporate Overview"
  2. ↑ "Legg Mason, 2012 10-K"
  3. ↑ 3.0 3.1 “Legg Mason, Inc. Sustainability Report”

External links