Legg Mason settles with Justice Department in Libyan bribery probe

June 6, 2018 Leave a comment

Baltimore-based Legg Mason managed $672.1 billion as of Sept. 30. Its shares have declined 15 percent this year, compared with a drop of 5.8 percent for the 19-member Standard & Poor’s index of asset managers and custody banks. (File photo)

Legg Mason Inc. agreed to pay $64.2 million to settle a probe of an affiliate that managed investments for the Libyan government when Moammar Gadhafi led the country.

Tagged with: Legg Mason

Legg Mason’s largest shareholder is increasing its investment

December 19, 2016 Leave a comment

Legg Mason’s largest shareholder, Shanda Group, is adding two members to the Baltimore money manager’s board of directors and plans to purchase up to 15 percent of the company’s common stock. Legg Mason announced Monday that the agreement is part ...

Tagged with: Legg Mason Shanda Group

Famed investor Bill Miller leaving Legg Mason after 35 years

August 11, 2016 Leave a comment

Bill Miller, a value investor known for his bullish views of the economy and stock markets, became Legg Mason’s star manager when he beat the market every year from 1991 through 2005. (Photo courtesy of Legg Mason)

Bill Miller is leaving Legg Mason after more than three decades. The stock picker, famed for beating the S&P 500 Index for 15 straight years when he ran the Legg Mason Value Trust, is buying Legg Mason’s stake in LMM ...

Tagged with: Bill Miller Legg Mason

Activist investor Peltz’s fund to sell stake in Legg Mason

April 12, 2016 Leave a comment

Nelson Peltz of Trian Group, Heinz's second-largest investor, addresses shareholders during the annual meeting in Pittsburgh on Wednesday, Aug. 16, 2006. (AP Photo/Keith Srakocic)

Activist investor Trian Fund Management agreed to sell its 9.9 percent stake in Legg Mason Inc. to Shanda Group, ending a six-year push to lift the share price of the Baltimore-based money manager. Trian is selling “substantially all” of the ...

Tagged with: Legg Mason Nelson Peltz Trian

Md. financial institutions pledge time and money to BLocal

April 7, 2016 Leave a comment

“We have become such an integral part of the community here in Baltimore that this was something we wanted to participate in,” said Augie Chiasera, ‎president of the Baltimore-Chesapeake region at M&T Bank, about BLocal, an initiative that brings together 25 area businesses and organizations to direct more resources toward helping Baltimore residents and small businesses.

A handful of financial institutions have signed on to be part of BLocal, an initiative that brings together 25 area businesses and organizations to direct more resources toward helping Baltimore residents and small businesses. Companies including T. Rowe Price, Legg ...

Tagged with: 1st Mariner Bank ABS Capital Partners BLocal Legg Mason M&T Bank T. Rowe Price

Because of technology, snow day means business as usual

January 26, 2016 Leave a comment

Across the country, people are working from home more than ever. Census Bureau data shows that half the U.S. workforce has a job that can be done from home, and one in four people work from home on a regular ...

Tagged with: Legg Mason MedStar T. Rowe Price telecommuting

Legg Mason’s net income misses expectations as markets slump

October 30, 2015 Leave a comment

Baltimore-based Legg Mason Inc. reported a fiscal second quarter profit that fell short of analysts’ estimates as the stock market slump eroded assets and fees for overseeing them. Net income rose to $64.3 million, or 58 cents a share, from ...

Tagged with: joseph a. sullivan Legg Mason

Legg Mason completes acquisition of Australian company

October 21, 2015 Leave a comment

Legg Mason Inc., the Baltimore-based global asset manager, is in exclusive talks to buy a majority stake in real estate investment specialist Clarion Partners LLC in a deal that would value the company at about $850 million, people with knowledge of the matter said. (The Daily Record / Maximilian Franz)

Legg Mason has completed the acquisition of the majority shares in RARE Infrastructure Limited, a global listed infrastructure manager based in Sydney, Australia. As of Oct. 20, RARE Infrastructure reported assets under management of $6.8 billion. The company has offices ...

Tagged with: acquisition Legg Mason

Legg Mason income up in second quarter

July 31, 2015 Leave a comment

Legg Mason, Inc. Thursday reported net income of $94.5 million and adjusted income of $129.3 million in the first fiscal quarter of this year compared to $72.2 million and $107.2 million, respectively, for the same quarter last year. For the current quarter, ...