Article: Clarification: Legg Mason Using Thrift for Trust.(Brief Article)

A page 1 article Monday "American Express Will Offer Trust Nationwide" mentioned Legg Mason Inc. as an example of a nonbank that had opted to offer trust services through alliances rather than own all of a trust venture. Legg Mason's joint venture with the Boston law firm Bingham, Dana & Gould, which was mentioned in the article, is in fact part of a trust business initiative by the Baltimore broker-dealer. In September, Legg Mason received a federal thrift charter that gave it, like American Express, national trust ...

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