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Rating:Legg Mason Looks to the East for Growth Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 29, 2004

Legg Mason Looks to the East for Growth

by: Theresa Sim

Legg Mason is planning to grow its business in Japan drastically, reported Reuters.

The money manager thinks it can grow assets managed for Japanese clients two or threefold, from $7 billion to the $20 to $30 billion range, Reuters reported Raymond "Chip" Mason, Legg Mason's chief executive officer, as saying.

Mason plans on gathering assets through new clients, rather than acquiring the assets. Regarding an acquisition of a money manager in Japan: "I don't think we'll find one," Reuters reported Mason as saying.

Although managers located in Singapore currently manage the money for Japanese clients, Legg Mason could open a Tokyo-based office in the next year, reported Reuters.  

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