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.
could not immediately reach officials at David Barrett and Russell Reynolds for comment.
Stayed tuned for more updates.
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