Baltimore Checkbook: Legg Mason CEO says 2016 was a "challenging" year after company records $25 million loss

Tuesday, July 26, 2016

Legg Mason CEO says 2016 was a "challenging" year after company records $25 million loss

Legg Mason Inc. CEO Joseph A. Sullivan said Tuesday he was disappointed by the company’s financial results in 2016, but he thinks the company has positioned itself for future success through its acquisitions and an improved asset mix. The Baltimore-based asset manager reported a net loss of $25 million for the year, compared to a $237 million profit last year. Assets under management also decreased from $702.7 million in 2015 to $669.6 million in the most recent fiscal year. “There are no two ways…