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Tuesday, July 29, 2014|
Joe Sullivan Steals a Page from Sean Healey
Legg Mason's Joe Sullivan is back in acquisition mode, recently buying the $10 billion Edinburgh-based Martin Currie.
However, this deal was an outright acquisition of the firm, like the other boutiques under Legg's umbrella. Halal Touryalai of Forbes writes that this arrangement is surprising, given Sullivan's outspoken aims to change this paradigm.
She cites comments from Sullivan in a March story she wrote on the executive, in which .
Touryalai wrote in that March article that Sullivan plans to restructure all of Legg's arrangements with its affiliates in the coming 18-months to give all of them profit-sharing deals.
Stealing a page from AMG CEO Sean Healey doesn't seem to be a bad idea. His ravenous quest for deals, all of which involving leaving skin with the target boutiques, has helped AMG's earnings. The firm recently garnered inclusion on the S & P 500.
Not that Sullivan is a slouch by any means, the Motley Fool recently doted on Sullivan for the way he has been revamping Legg over the past year.
Printed from: MFWire.com/story.asp?s=49277
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