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Rating:Three More Names Added to Legg Mason Speculation Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, November 07, 2012

Three More Names Added to Legg Mason Speculation

News summary by MFWire's editors

Who will lead Legg Mason now that Mark Fetting's gone? Ross Kerber and Jessica Toonkel of Reuters take an in-depth look at the CEO search, adding three names to the hat: TD Asset Management CEO Brian Murdock, Natixis Global Asset Management CEO John Hailer, and Old Mutual Asset Management CEO Peter Bain.

The article also mentions two names already floating around the rumor mill: American Century's Peter Cieszko and former BofA wealth and funds chief Sallie Krawcheck.

Reuters worries that the hunt "is going to be no easy task," thanks to Legg's multiple affiliates and their different deals with the parent, as well its relationship with activist investor and 9.5-percent Legg shareholder Nelson Peltz.

Fetting took over as CEO in 2008. He resigned effective October 1, 2012, with global distribution chief Joe Sullivan stepping up as interim CEO while the board hunts for Fetting's replacement. The Baltimore-based mutual fund shop reportedly hired Korn/Ferry International to do the search. 

Edited by: Neil Anderson, Managing Editor


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