Legg Mason, Inc. (NYSE: LM) is an American investment management firm with a focus on asset management and serves customers worldwide. Legg Mason offers products in equities and fixed income, as well as domestic and international liquidity management and alternative investments (via a funds-of-hedge-funds manager).
Created in 1970 through the acquisition of Mason & Co. by Legg & Co to form Legg Mason & Co., Inc., Legg Mason has since become the 20th largest asset manager in the world. Legg Mason serves individual and institutional investors on six continents, and has some $757 billion in aggregated assets under management as of July 31, 2016.
Legg Mason operates using a multi-manager business model, with each of the company’s subsidiaries operating independently in its own segment of the asset management industry. It provides global distribution and fosters growth through product development, investing in its existing affiliates, and making new acquisitions.
Legg Mason can trace its earliest roots to George Mackubin & Co., which got its start selling stocks out of a back office in the Baltimore Stock Exchange in 1899. Over time this evolved into Legg & Company, which in 1970 acquired the Newport News, Virginia-based Mason & Company that Raymond A. Mason had founded by 1962. The combined firms' headquarters is in Baltimore.
Legg Mason acts through its subsidiaries to provide investment management and related services to its clients, which include institutions as well as individuals. Under the company's multi-manager model, each subsidiary operates with investment autonomy, following its own investment philosophy and implementing its own process.
In addition to providing its employees with environment-related volunteering opportunities, Legg Mason also implements several corporate ESG initiatives, such as:
Legg Mason's headquarters are located in the 100 International Drive building in Baltimore, Maryland. Prior locations were formerly were at Redwood Street, Pratt Street, and 100 Light Street.
Light Street Former Legg Mason Building
Pratt Street Former Legg Mason Building
Redwood Street Former Legg Mason Building
Legg Mason Headquarters in Baltimore, Maryland since 2009