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Rating:UPDATED: Who'll Be Legg Mason's Next Chief? Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 11, 2012

UPDATED: Who'll Be Legg Mason's Next Chief?

Reported by Irene Park

If you want to be a fund firm CEO and you'd like the Legg Mason job, Legg Mason hasn't yet made public who'll be leading the search for the new chief.

Legg Mason announced in a statement today that it would hire a "leading executive search firm" to find inside and outside candidates. A spokeswoman for Legg Mason told the MFWire that the firm does not know which firm it will be hiring.

For now, Joseph Sullivan will take over as interim CEO. But whether he'll be transitioned into the position permanently remains to be seen.

Meanwhile, an industry source told the MFWire that Legg Mason is likely to go external for its newest candidate. "I don't think they've got the talent internally," he said.

He also believes Legg Mason may hire either David Barrett Partners or Russell Reynolds Associates for the CEO search. The source is not associated with either of the firms.

MFWire could not immediately reach officials at David Barrett and Russell Reynolds for comment.

Stayed tuned for more updates. 

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