Legg Mason reports Q1 profit of $60M
BY: Rachel Bernstein
POSTED: July 28, 2011
Tags: assets under managent, earnings, fiscal quarter, Legg Mason, mark r. fetting, net income, profit
Money manager Legg Mason Inc. Thursday reported a 25 percent increase in profit from the corresponding period a year ago, but said assets under management were down 2 percent for the quarter ending June 30. The Baltimore company reported $60 million in net income, or 40 cents per diluted share, for its fiscal first quarter, [...]
Fetting says Legg still has work to be done 
BY: Ben Mook
POSTED: July 26, 2011
Tags: Baltimore, CEO, chairman, fiscal year, harbor east, laid off, Legg Mason Inc., mark fetting, maryland, owings mills, securities and exchange commission, shareholders, workers, workforce
As part of its continuing restructuring efforts, Legg Mason Inc. said Tuesday that it had laid off 180 people, about 5 percent of its workforce, at the beginning of the month. The staff reduction, part of an effort to save the company as much as $150 million by next year, was announced Tuesday during the [...]
Legg’s assets increased in June
BY: Daily Record Staff
POSTED: July 13, 2011
Tags: assets, Baltimore, fixed-income investments, Legg Mason, managed assets, money-market mutual funds, Stocks
Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management rose in June to $662.5 billion, up 2.6 percent from the $645.4 billion recorded in June 2010. Fixed-income investments closed at $365.4 billion, an increase of $7.5 billion over the June 2010 figure of $357.9 billion. Managed assets in stocks rose [...]
Legg’s assets under management up slightly
BY: Daily Record Staff
POSTED: April 12, 2011
Tags: assets, Baltimore, investments, Legg Mason, maryland, mutual funds, stock
Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management rose slightly to $677.6 billion through the end of March 2011, up from $672.7 billion at the end of February 2011. However, the total was lower than at the end of March 2010, when the firm reported assets under management of [...]
Legg, T. Rowe have stake in each other’s success
BY: Ben Mook
POSTED: February 24, 2011
Tags: Baltimore, competition, east baltimore, firms, Inner Harbor, investment, Legg Mason, lender, market, success, T. Rowe Price
As two of the biggest kids on the block in the world of asset management, who just happen to live down the street from each other, it would be easy to believe a bitter rivalry has developed between T. Rowe Price Group Inc. and Legg Mason Inc. The companies have both been in downtown Baltimore [...]
Legg a firm of firms, Price more centralized
BY: Ben Mook
POSTED: February 24, 2011
Tags: Baltimore, Banking, brandywine global, Business, CEO Mark R. Fetting, clearbridge advisors, different, firm, Inner Harbor, investment, Legg Mason, Legg Mason Capital Management, maryland, T. Rowe Price
Legg Mason Inc. and T. Rowe Price Group Inc. have grown and succeeded by using business models that differ widely when it comes to how to make money for their respective customers. As a self-described “firm of firms,” Legg Mason has sought to grow and succeed over the years by finding talented investment companies and [...]
Differing approaches of Legg Mason, T. Rowe Price bring differing results
BY: Ben Mook
POSTED: February 24, 2011
Tags: asset-management, Baltimore, firms, Legg Mason, lenders, maryland, rivals, SEC, securities and exchange commission, T. Rowe Price
For decades, two of the best-known asset management firms in the country have shared a ZIP code — but little else — as they took different paths toward building businesses that at one point controlled nearly $1.4 trillion in combined assets. The corporate headquarters for T. Rowe Price Group Inc. and Legg Mason Inc. were, [...]
Legg Mason assets rise slightly
BY: Associated Press
POSTED: January 12, 2011
Tags: asset-management, assets, Baltimore, Legg Mason, maryland, rise, stock, wall street
Legg Mason Inc. reported assets under management rose a miniscule 0.6 percent in December 2010 compared to the prior month. The Baltimore-based asset management company recorded $671.8 billion in the investments it managed in December 2010, compared to $667.7 billion in November. For the year-to-year comparison, assets under management dropped $9.8 billion, or about 1.4 [...]
Progress for Legg Mason, but Fetting wants more
BY: Ben Mook
POSTED: October 27, 2010
Legg Mason Inc. said Wednesday its second fiscal quarter profit rose 64 percent, based largely on a stock market rally that boosted fees. The Baltimore-based company reported net income of $75.3 million, or 50 cents per diluted share, compared to $45.8 million, or 30 cents per diluted share, in the second quarter of last year. [...]
Legg shareholders reject deferring bonuses
BY: Ben Mook
POSTED: July 27, 2010
Tags: annual meeting, executive pay, Legg Mason
Legg Mason’s shareholders Tuesday voted down a proposal that would have spread out short-term performance bonuses to senior executives for three years. The shareholder proposal was one of two voted on at the Baltimore-based asset management firm’s annual shareholder meeting, the first in its new headquarters in Harbor East. The AFSCME Employees Pension Plan wanted [...]
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