CEO: Legg Mason

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“We are in the flow becauss we see opportunities,” Fetting told the audienced at a conferenceJune 4. Any acquisitionz would not be large enough to be Fetting said, but would instead be smaller dealw that would add to what the company already The profitability of asset managers, such as Legg depends in large part on the amount of monety clients invest with them. One way of increasing what is referredf toas “assets under management” is to acquire other financial services companies whose customerss would then become Legg Mason customers. The company had $632.3 billion in assets under management as ofMarcg 31.
Alan Rambaldini, a analyst who follows Legg saidhe doesn’t expect the company to make any blockbuster “They don’t really have the financesd right now to do something he said. “I don’t think they really need to changweanything up, but fill in the gaps and add to what they alreadt have.” That could include adding fund companies that couled increase Legg’s offerings of international mutual funds that invesr in foreign and U.S. he said. Legg Mason’s last majotr acquisition was in 2005 when it swapped its retailp brokerage businessfor ’s asset management That same year Legg Masobn also bought , a British fundd manager.