LM

Legg Mason Inc

A Baltimore-based asset manager that ran a network of investment firms under one roof, including ClearBridge Advisors, Western Asset Management, and Royce & Associates, which managed money for pensions, institutions, and everyday investors. It took shape in 1962 when the brokerage Legg & Company merged with Mason & Company, with financier Raymond "Chip" Mason at the helm for decades. Long known for letting each of its affiliates run their own funds under their own names, the firm was folded into Franklin Templeton in 2020.