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CEO of Legg Mason Subsidiary, ClearBridge Advisors, Out

Posted by Seton McAndrews | CFP®, Vice President Investments

December 15, 2011

Money manager ClearBridge advisors notified clients on December 1st, 2011 of CEO Peter Sundman's departure. Part of the reason behind the departure is cost, although other details were not available. Any material impact on the investment teams at ClearBridge seems unlikely as the investment teams and Chief Investment Officer remain in place.

The position will not be filled with a replacement and instead the CEO responsibilities will be consolidated with those of ClearBridge President Terrence Murphy. Murphy served as the Chief Operating Officer at ClearBridge since 2006 and was promoted to President in 2011. Prior to his work at ClearBridge, he was part of the Citigroup Asset Management team holding positions as director of planning and analysis and chief financial officer.

Source: Morningstar Advisors


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ClearBridge Multi-Cap Growth Quarterly Performance Review

May 24, 2011
Money manager ClearBridge reviews their Multi-Cap Growth portfolios, highlighting the reasons for specific performers and under-performers. A summary of economic events and their outlook moving forward is also discussed. "While concerns remain about deficits, inflation and, of course, the negative consequences of unforeseen major macroeconomic and geopolitical events and their impact on the market, our experience has taught us that often the macroeconomic situation dictates investors' reactions and triggers unwarranted selling, which can actually create longer term buying opportunities." Download Full Commmentary Here Get Free Research Reports about Legg Mason ClearBridge Advisors [+] Read More