In the Margins

Legg Mason reports quarterly losses

May 2, 2016

By The Wall Street Journal

Legg Mason Inc. reported losses in its most recent quarter. “Macro headwinds negatively impacted operating results for the quarter, which were disappointing in terms of long-term flows and financial performance,” CEO Joseph Sullivan said. The Baltimore-based company made progress during the quarter in transforming its portfolio, however, an effort it began several years ago to diversify the business, Sullivan said. Read the original story from The Wall Street Journal.