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Article: Money management: Citigroup deal means Legg Mason will be 5th largest money manager.(News)
- Article from:
- Pensions & Investments
- Article date:
- June 27, 2005
- Author:
CopyrightCOPYRIGHT 2005 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Douglas Appell
BALTIMORE - Legg Mason Inc. will be catapulted into the top ranks of global money managers with the June 24 announcement that it will trade its brokerage operation for Citigroup's asset management arm.
Legg Mason will have $832 billion under management, including $437 billion from Citigroup. That would make the combined firm the nation's fifth largest money manager.
The deal also will make Legg Mason's Western Asset Management Inc., Pasadena, Calif., the largest pure fixed-income manager, with $490 billion under management.
In a telephone interview on June 24, Chairman Raymond "Chip'' Mason called the deal - ...
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Article: Legg Mason Acquires Berkshire Asset ...
Business Wire;
September 7, 1999 ;
700+ words
... ... Sept. 7, 1999-- Legg Mason, Inc. (NYSE: LM) has acquired Berkshire Asset Management, Inc., a Wilkes ... owned subsidiary of Legg Mason and will continue to ... executive officer of Legg Mason, commented, "We are ...
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