Legg Mason, [profile] is folding Bill Miller's home up with another division.

Legg Mason Capital Management is being combined with the parent company's ClearBridge Investments equity unit, a decision which follows a downturn in AUM, according to a Bloomberg report.

The story notes that Sam Peters will maintain leadership of LMCM. Miller, meanwhile, will continue managing a mutual fund and not join ClearBridge.

For more on the merger and Legg Mason's attempts to escape the Doldrums, read the original article. 

Edited by: Ben Geier


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