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Rating:Firm Gets New Management to Match New Business Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, June 29, 2006

Firm Gets New Management to Match New Business

by: Marie Glancy

Legg Mason has "realigned" its senior management team to accommodate the acquisition of Citigroup Asset Management, Legg announced Wednesday.

The switch-around reflects the Baltimore-based firm's new identity as a purely asset management firm, now that Citigroup has acquired Legg's brokerage and capital markets divisions. Legg Mason will now include three units: Global Managed Investments, International Asset Management, and U.S. Asset Management. Mark Fetting, Timothy Scheve, and Peter Bain will oversee the three parts, respectively. Scheve also remains chief administrative officer.

James Hirschmann, president of Legg Mason since May 1, called the restructuring a "logical step in a dynamic process."  

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