Legg Mason’s [profile] strategies continue to get ink and pixels, with the problems facing the asset manager getting a write-up in Reuters this morning.

The story quotes CFO Pete Nachtwey as saying the firm is “prepared to modify [its business strategy] as appropriate.”

The Reuters article notes that the publicly traded shop's shares are priced at $25.00, putting them down 5.2 percent for the year.

It also gets into some of the nitty gritty history about former CEO Mark Fetting and activist investor Nelson Peltz. But the article is light on new information, only having a few quotes from Nachtwey from yesterday's Bank of America Merrill Lynch Banking and Financial Services Conference. Still, anything about the situation in Baltimore is likely worth reading for those in the mutual fund world.

See more of MFWire’s coverage of the Legg Mason situation here, here, here and here.

Read the original article here.  

Edited by: Ben Geier


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