$LM (Legg Mason Inc.)

$LM {{ '2016-01-22T11:50:27+0000' | timeago}} • Announcement

Asset management firm $LM said it will acquire an 83% ownership stake in Clarion Partners, a New York-based real estate investment firm for $585MM. $LM will also pay for its portion of certain co-investments on a dollar for dollar basis, estimated at $16MM as of Dec. 31, 2015. The deal is expected to close in the second calendar quarter of 2016.

$LM {{ '2017-06-12T19:01:14+0000' | timeago}} • Announcement

$LM reported preliminary assets under management of approx. $726.6Bil as of May 31, 2017. Fixed Income flows were flat. Alternatives AUM reflected realizations1 of $1.1Bil at Clarion Partners. Liquidity outflows were $7.5Bil.

$F {{ '2017-05-25T14:43:39+0000' | timeago}} • Announcement

$F announced that Dr. Ken Washington is the new VP of Research and Advanced Engineering and CTO, Ford Motor Company, effective June 1, 2017. Prior to joining Ford, he was VP of the Advanced Technology Center at $LM Space Systems Company.

$LM {{ '2017-05-10T14:23:38+0000' | timeago}} • Announcement

$LM reported preliminary assets under management of about $731Bil as of April 30, 2017. This included long-term outflows of $1.5Bil, consisting of net outflows in fixed income of $1Bil and equities of $0.6Bil. Liquidity outflows were $0.2Bi; and this month's AUM included a negative foreign exchange impact of $0.1Bil.

$LM {{ '2017-05-05T15:17:58+0000' | timeago}} • Announcement

$LM appointed Frances Cashman as Global Head of Communications and Engagement, John Kenney as Global Head of Affiliate Strategic Initiatives and Patricia Lattin as Chief Human Resources Officer. The appointments are effective June 1 and will bring the total number of executive committee positions to 9. $LM named Jeff Masom as head of U.S. Sales,

$LM {{ '2017-04-12T14:46:18+0000' | timeago}} • Announcement

$LM reported preliminary assets under management of about $728.4Bil as of March 31, 2017. This included long-term inflows of $2.6Bil, driven by net inflows in equities of $3.3Bil and fixed income of $1.1 Bil, partially offset by alternatives outflows of $1.8Bil.

$LM {{ '2017-03-10T19:10:19+0000' | timeago}} • Announcement

$LM reported preliminary assets under management of about $722.9Bil as of Feb. 28, 2017, This month's AUM included long-term inflows of $3.8Bil, driven by net inflows in fixed income of $3.3Bil and equities of $0.7Bil, partially offset by alternatives outflows of $0.2Bil. Liquidity outflows were $1.3Bil and foreign exchange impact was immaterial.

$LM {{ '2017-02-10T14:27:48+0000' | timeago}} • Announcement

$LM reported preliminary assets under management of about $713.8Bil as of Jan. 31, 2017. This month's AUM included long-term outflows of $2.5Bil, which included client redemptions at Western Asset and QS Investors. Liquidity outflows were $4Bil and this month's AUM included a positive foreign exchange impact of $3.7Bil.

$LM {{ '2017-02-01T12:01:12+0000' | timeago}} • Announcement

$LM announced that Tianqiao Chen and Robert Chiu have been elected as directors effective February 1, 2017. Mr. Chen, Chairman and CEO of Shanda Group was also appointed effective February 1, 2017 as Vice Chairman of the BoD and as a member of the Nominating & Corporate Governance Committee.  Mr. Chiu is President of Shanda Group.

$LM {{ '2016-12-19T16:19:25+0000' | timeago}} • Announcement

$LM said Shanda Group agreed to invest at least $500MM in investment products with $LM affiliates. Shanda Group has also pledged to make a meaningful contribution to $LM's charitable foundation.

$LM {{ '2016-12-19T16:15:26+0000' | timeago}} • Announcement

$LM said agreement contemplates Shanda Group purchasing additional $LM's common shares to rise investment up to 15% of outstanding common stock. The agreement also provides that Shanda Group will not buy more than 15% of outstanding common stock or initiate certain transactions or actions including proxy solicitations during 3-year period.

$LM {{ '2016-12-19T16:12:17+0000' | timeago}} • Announcement

$LM announced an agreement with its largest shareholder Shanda Group that includes a commitment to appoint Tianqiao Chen, Chairman and CEO of Shanda Group, and Robert Chiu, President of Shanda Group, to its BoD by June 1, 2017. Chen will be joining the Board as the Vice Chairman.

$LM {{ '2016-12-12T19:42:15+0000' | timeago}} • Announcement

$LM reported preliminary AUM of about $707.3Bil as of Nov. 30, 2016, including long-term outflows of $2.8Bil, consisting of net outflows in equities of $1.6Bil, fixed income of $1.1Bil and alternatives of $0.1Bil. The fixed income outflows included a $1.2Bil Global Sovereign client redemption. Liquidity outflows were $0.6Bil.

$LM {{ '2016-11-11T11:19:11+0000' | timeago}} • Announcement

$LM reported assets under management (AUM) of about $716.3Bil as of Oct. 31, 2016. This AUM includes long-term outflows of $1.0Bil and fixed income inflows of $1.1Bil. Liquidity outflows were $5.6Bil and this includes a negative foreign exchange impact of $2.7Bil.

$LM {{ '2016-10-28T12:51:15+0000' | timeago}} • Webcast

$LM said through its acquisition of Financial Guard, an investment adviser, it now expects to support its advisor partners in a more complementary and efficient fashion. This will also enable to expand the delivery of investment expertise to clients in a fashion with recent regulatory changes, the company said.

$LM {{ '2016-10-28T12:33:34+0000' | timeago}} • Webcast

$LM's operating margin was down 13% to 17.1% in 2Q17 and adjusted operating margin was 22.7%. The decrease was driven by the acquisition and transition-related costs. Operating expenses increased 15% to $620.7MM.

$LM {{ '2016-10-28T11:46:14+0000' | timeago}} • Announcement

$LM said its BoD declared a quarterly cash dividend of $0.22 per share on its common stock. The dividend is payable on Jan. 9, 2017 to shareholders of record at the close of business on Dec. 14, 2016.

$LM {{ '2016-10-28T11:45:59+0000' | timeago}} • Announcement

$LM reported 2Q17 net income of $66.4MM, or $0.63 per diluted share, up 3% from a year ago. Operating revenues were $748.4MM, up 11% from a year ago. Assets Under Management was $733Bil, up 9% from a year ago.

$LM {{ '2016-10-12T14:19:30+0000' | timeago}} • Announcement

$LM said preliminary assets under management were approx. $732.9Bil as of September 30, 2016. This included long-term outflows of $1.4Bil, consisting of net outflows in fixed income of $0.8Bil, alternatives of $0.5Bil and equity of $0.1Bil. Liquidity outflows were $5.8Bil. The AUM included a positive FX impact of $1.1Bil.

$LM {{ '2016-09-14T04:50:52+0000' | timeago}} • Announcement

Asset management firm $LM reported preliminary assets under management of about $737.2Bil as of Aug. 31. Aug. AUM included long-term inflows of $1.5Bil, driven by fixed income inflows of $2.1Bil. Liquidity outflows were $21.6Bil. Aug. AUM also included a negative FX impact of $0.9Bil.

$LM {{ '2016-08-18T12:02:05+0000' | timeago}} • Announcement

$LM completed its acquisition of an 82% interest in Financial Guard LLC, an online registered investment advisor. The firm will operate as part of $LM's alternative distribution strategies business.

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