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
TheStreet Open House

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

Stock quotes in this article: LM

Mr. Sullivan said, "I am honored to have been selected as Legg Mason's new CEO, optimistic about our growth prospects, and fully committed to and believe in the Legg Mason affiliate business model.  One of my top priorities when I assumed the Interim role in October was to bring our executive team, our affiliate leadership, and our Board together to create a shared vision for Legg Mason. 

"That shared vision centers primarily on growth and we are firmly committed to working together toward that important goal," added Mr. Sullivan. "We will seek to do this organically and through acquisitions of teams and firms that build and diversify our affiliate managers and fill our product gaps.  And, as always, we will also continue our efforts to be more efficient across all business functions. 

"While much work remains to be done, I am excited about Legg Mason's future. We have outstanding world class asset managers, an excellent global distribution platform, and a strong balance sheet. With signs that the economy is improving and renewed confidence in the markets, I believe we are in an excellent position to compete, resume growth, and enhance shareholder value," added Mr. Sullivan.

Commenting on Mr. Kass' appointment to the Board, Mr. Reed said,   "We are delighted to add Dennis Kass as a new independent member of the Legg Mason Board.  Dennis is a highly regarded executive in the asset management industry who has the insights of both a diversified global asset manager and of an affiliate company CEO. We are confident that he will bring a unique perspective that will be valuable to the Board of Legg Mason."   



Background on Joseph Sullivan

In addition to his positions at Legg Mason, Mr. Sullivan also serves as a current Trustee and former Chair of the Securities Industry Institute, was a former Chair of the Fixed Income Committee of the National Association of Securities Dealers (NASD), a Board Member of the Bond Market Association and a member of the New York Stock Exchange (NYSE) Hearing Board.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs