has "realigned" its senior management team to accommodate the acquisition of Citigroup Asset Management
, Legg announced
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.
, president of Legg Mason since May 1, called the restructuring a "logical step in a dynamic process."
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