Legg Mason, Inc.

NEW YORK - Morgan Stanley Chief Executive Officer John J. Mack may consider selling the company's asset-management business as he takes over the world's largest securities firm that he helped create eight years ago. Mack told analysts during a conference...

The target date for Legg Mason Inc. and Citigroup Inc. to close their $3.7 billion business swap has slipped to December as the companies grapple with one of their biggest hurdles - persuading mutual fund shareholders to approve the idea. Officials...

Legg Mason Inc.'s capital markets division, which the Baltimore firm agreed to sell along with its brokers to the financial powerhouse Citigroup Inc., has been stung by a string of defections to competitors as employees speculate that their division...

Legg Mason Inc., which is poised to become the fifth-largest money manager in the world, saw its stock tumble from historic highs after its earnings report yesterday fell short of Wall Street expectations. Stock in the Baltimore-based investment firm...

Even if mutual fund investors want to follow a buy-and-hold strategy, sometimes their hands are forced. A fund they hold is suddenly being liquidated or merged into another. Investors must find another place to put their money or, in the case of a...

Thousands of people with a penchant for the markets and a creative idea to beat them run hedge funds, or investment pools for the uber-rich. By Isaac Souede's estimation, though, only about one in 50 is any good. This at once explains why Legg Mason Inc....

After the conference call to his employees, after he briefed the stock analysts and the media and watched Wall Street exult over the prospect of Legg Mason Inc. morphing into the world's fifth-largest money manager, Raymond A. "Chip" Mason sat down and...

Legg Mason Inc. promises its customers a smooth transition when the Baltimore company swaps businesses with Citigroup Inc. and analysts predict those investors may even see lower fees as a result of the $3.7 billion deal announced yesterday. Legg Mason...

Legg Mason Inc. agreed yesterday to trade its brokerage unit for the money management business of financial giant Citigroup Inc. in a $3.7 billion deal that transforms the Baltimore-based firm from a regional player into the world's fifth-largest money...

Neither was at the negotiating table, but New York Attorney General Eliot Spitzer and retiring Securities and Exchange Commission Chairman William H. Donaldson played a supporting role in Legg Mason Inc.'s $3.7 billion deal to swap businesses with...

One can imagine tense, closed-door negotiations between a small cadre of Legg Mason Inc. and Citigroup Inc. executives, hunched over calculators and paperwork, trying to decide how the companies would swap parts of their businesses. But that's just it...

NEW YORK - Capitalism emerged from the rubble of lower Manhattan yesterday. But the markets, open for the first time since last week's terrorist attacks, plunged immediately, sending the Dow Jones industrial average down more than 680 points, or 7.13...