Maxwell Osborne

Legg Mason Inc. has announced that Joseph A. Sullivan has been named CEO and president. Sullivan has served as interim leader of the Baltimore-based brokerage firm for more than four months. In a prepared statement, Sullivan said he was honored to be selected and was optimistic about the growth prospects at Legg Mason, according to the Baltimore Sun. “While much work remains to be done, I am excited about Legg Mason’s future. We have outstanding world class asset managers, an excellent...Read Full Story

After a five month search for a CEO, Legg Mason, Inc. (NYSE:LM) announced Wednesday that it had made the critical choice. The large asset manager named Joseph Sullivan as the new CEO. Sullivan is Legg’s interim CEO and the former head of global distribution. The move was lauded by activist investor Nelson Peltz who, in an interview with Barrons, said that Sullivan was the clear winner. “I’m thrilled with the choice, and I’m not just saying that. This guy is aces,” he remarked. Peltz’s Trian...Read Full Story

Legg Mason, Inc. (NYSE:LM) has announced the installation of a new Chief Executive Officer. The asset manager announced that Joseph A. Sullivan would take the position of the head of the company, after years of poor performance and sluggish returns. Sullivan has been serving as the company’s interim CEO since last October. Mark Fetting, the company’s former CEO, stepped down last year after Nelson Peltz  put pressure on the company to change its management. In the last five years, the...Read Full Story

Legg Mason shouldered its 19th straight quarter of net outflows in the June quarter, extending a bleak run for the money manager and helping push it to a surprise loss for the period.Read Full Story

Legg Mason's fiscal fourth-quarter earnings rose 10% as a series of gains helped the money manager offset yet another outflow in investor cash and a drop in assets under management.Read Full Story