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Article: The search begins; Legg Mason starts hunt for successor to charismatic founder.(Money Management)
- Article from:
- Pensions & Investments
- Article date:
- August 20, 2007
CopyrightCOPYRIGHT 2007 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: Mark Bruno
BALTIMORE - Legg Mason is beginning a search for a new chief executive officer and eventual successor to its legendary founder, president and CEO Raymond "Chip'' Mason.
Officials for the $992 billion asset management company recently issued an invitation-only request for proposals to a handful of executive recruiting firms, according to multiple sources throughout the money management industry. Baltimore-based Legg Mason Inc. is expected to tap a firm by the end of September to lead what could be one of the highest-profile recruiting jobs in the history of the money management industry.
"It's a shootout,'' said one asset ...