Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fetting Says Legg Mason Has Email Routing List Email & Route  Print Print
Monday, April 09, 2012

Fetting Says Legg Mason Has "What It Takes to Complete This Turnaround"

News summary by MFWire's editors

Beverly Goodman of Barron's wonders if Legg Mason [profile] can bounce back given that it was built during a market boom and was hit really hard during the financial crisis of 2008 and 2009.

Mark Fetting, who took over as CEO in 2008, inherited a mutual fund firm suffering from massive outflows and poor investment performance of investments, Barron's opines, as well as a clumsy corporate structure. Its stock price is down to $26.85, from $136 in 2006.

"It's not an issue of the model," Fetting says. "It's an issue of us delivering on our plans. We have what it takes to complete this turnaround."

Yet Fetting also added that he's "not sure how constructive it is to dwell on the past."

Rob Lee, an analyst at Keefe, Bruyette & Woods, offered this thoughts on the Baltimore-based mutual fund firm. 

Edited by: HFD


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use