About Us

Since its founding in 1899 as a brokerage firm in Baltimore, Maryland, Legg Mason has evolved into one of the largest asset management firms in the world, serving individual and institutional investors in 190 countries on six continents.

Today's Legg Mason is a diversified group of best-in-class global asset management firms ("affiliates") who are recognized for their proven investment expertise and long-term performance. The principal investment affiliates of Legg Mason are among the industry leaders in their respective areas of specialization, with unique investment approaches that have been developed over decades. The distinctive Legg Mason “multi-affiliate” business model provides clients with a broad spectrum of Equity, Fixed Income, Liquidity and Alternatives solutions, from mutual funds to college savings plans to variable annuities to separately managed accounts.

Legg Mason affiliates operate with investment autonomy, with each affiliate pursuing its own unique investment philosophy and process and maintaining its own investment culture, in order to create sustainable value for its clients. Legg Mason complements the investment expertise of its affiliates by providing world-class distribution and client service, enabling the affiliates to access new markets, new clients and new opportunities more efficiently on a global scale. Legg Mason also provides shared services, such as operations and technology, accounting, legal, compliance and marketing, to allow the affiliates to maintain their full focus on delivering sustainable investment excellence.

The diversification and balance of Legg Mason have fueled the company’s performance over its twenty-six year history as a public company. Currently, Legg Mason is one of the top ten asset managers in the world, with assets under management of $632 billion (as of March 31, 2009).

Quick Facts

• A diversified global asset management firm
• Founded in 1899
• Headquartered in Baltimore, Maryland, USA
• Chairman and Chief Executive Officer: Mark R. Fetting
• Common stock traded on the New York Stock Exchange (symbol: LM)
• Approximately 4,000 employees with 34 offices around the world
• One of the ten largest institutional asset managers in the world¹
• One of the ten largest advisor-sold fund complexes²
• Three business divisions: Managed Investments, Institutional, Wealth Management
• Global distribution capabilities with leading partners, including banks, brokerage firms, insurance companies and independent advisors
• Mission: The Legg Mason mission is "best-in class, global asset management".

2009 Annual Report