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Rating:Cziesko? Krawcheck? O'Hanley? The Rumors About Legg Pick Up Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, October 03, 2012

Cziesko? Krawcheck? O'Hanley? The Rumors About Legg Pick Up

News summary by MFWire's editors

Who will be the next CEO at Legg Mason [profile]? The guessing game is underway in the papers. The early favorite -- or at least the name floated to Reuters -- is Ron O'Hanley. Yes, that O'Hanley who only recently jumped from BNY Mellon to Fidelity to assume the mantle of Ned's heir apparent.

The speculation may be prompted by Abby Johnson's recent ascension to become O'Hanley's boss at the Boston Behemoth. Until Abby Johnson was named president of Fidelity Financial Services last month, O'Hanley had reported to her father Ned Johnson. Now O'Hanley does not.

Reporter Ross Kerber also pegs former Bank of America bigwig Sallie Krawcheck as a possible successor for Mark Fetting at Legg Mason. Krawcheck lost her job at BofA's Global Wealth and investment management arm after the financial crisis.

Krawcheck's name prompted the Baltimore Business Journal to wonder if Legg Mason's next CEO will be a woman.

There is a dark horse candidate mentioned by Kerber at Reuters. Consultant and native Baltimorean Neil Bathon points to American Century's Peter Cziesko as a possibility. Cziesko has been around many of the big names in the industry and is seen as a leader. Still, any candidate would have to please minority shareholder Nelson Pelz of Trian.

"Anyone who really wants this to be their legacy, they would have a hard time working out an arrangement unless they could get some assurances from Peltz," Bathon told Kerber, getting the last word.

Oh yes, there is one true dark horse no one is talking about: Joe Sullivan.

Dick Cheney was not available for comments on Sullivan's odds. Nor was former iCEO Steve Jobs, obviously. 

Edited by: Sean Hanna, Editor in Chief


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