This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Joseph A. Sullivan Appointed President And Chief Executive Officer Of Legg Mason, Inc.

BALTIMORE, Md., Feb. 13, 2013 /PRNewswire/ -- The Board of Directors of Legg Mason, Inc. (NYSE: LM), one of the world's largest global asset management firms,  today announced that it has appointed Joseph A. Sullivan President and Chief Executive Officer and a member of the Board of Directors, effective immediately.  In addition, it announced that Dennis M. Kass, a veteran leader in the asset management industry, will join the Legg Mason Board, effective April 1, 2013. 

Since October 1, 2012, Mr. Sullivan has served as Legg Mason's Interim Chief Executive Officer.  He joined Legg Mason in 2008 as Senior Executive Vice President and Chief Administrative Officer and more recently, served as Head of Global Distribution.

W. Allen Reed, Legg Mason's Non-Executive Chairman, who led the Board's Search Committee, said, "Following a very comprehensive search, that considered a broad list of highly qualified candidates, Joe was deemed by the Board to have the best combination of personal management skills and professional experience to lead Legg Mason forward. The selection process included not only the Search Committee and the Board, but also the leaders of our affiliate managers and senior corporate leadership.

"Over the past four months, since being named Interim CEO, Joe has acted with a sense of urgency and clarity of purpose," said Mr. Reed. "We have been impressed that he is bringing a fresh perspective and renewed energy to Legg Mason, has a clear vision for the Company and has demonstrated an ability to address the challenges and opportunities necessary to regenerate the growth of Legg Mason. The Board is unanimously aligned with the direction Joe wants to take the company and believes his no-nonsense management style will enable a fast start on the path to rebuilding Legg Mason as a premier asset management company. Importantly, Joe has developed a relationship with the affiliate leadership teams that the Board believes will enable a collaborative and mutually beneficial process that begins a new and exciting chapter in Legg Mason's history. He's earned the confidence of the entire firm and is ready to lead Legg Mason as its new CEO."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs