Legg Mason is seeking to launch a sales plan in mid 2011 for an increased focus on registered investment advisers (RIAs), Investment News reports. The firm will hire new staff as part of the plan.
Legg Mason is a Baltimore-based mutual fund firm, which had $672 billion in assets under management in April 2011. The firm’s fixed-income net outflows were $6.7 billion in the first quarter of 2011, while its equity outflows were $1.3 billion.
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