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Article: Recruiters vie to spearhead Legg Mason CEO search; Firm to choose one of five to conduct hunt for successor.(News)
- Article from:
- Investment News
- Article date:
- August 27, 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
NEW YORK - Legg Mason is beginning a search for a new chief executive and eventual successor to its legendary founder, president and chief executive Raymond "Chip'' Mason, who is 70.
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. by the end of next month is expected to tap a firm 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 ...