Is
Legg Mason's hunt for
Chip Mason's replacement close to an end? WSJ reporters Tom Lauricella and Diya Gullapalli don't claim to know, but that does not stop them from reporting in the
Wall Street Journal Fund Track column that the hunt is in "advanced stages." The new CEO for
Legg Mason could be chosen in early 2008, they add.
Meanwhile, insiders tell the
MFWire that
Mark Fetting, senior executive vice president of Legg Mason, is the only name that has surfaced as a possible contender for the job.
The WSJ duo also claim 2007 has been a tough year for Legg Mason; they point to its less-than-stellar fund performance, $3.9 billion in redemption (which pales in the face of Legg's $1 trillion AUM) and Moody's Investors Service's possible downgrade of the company because of its exposure to SIVs.
 
Edited by:
Erin Kello
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE