Legg Mason checks all boxes for activist interest tombuerkle
Nelson Peltz’s Trian Fund Management may push Legg Mason to implement changes to boost shareholder returns, Reuters reported on May 14 citing a person familiar with the matter. Peltz invested in the asset manager a decade ago and had a seat on the board from 2009 to 2014.
On May 13, Legg Mason reported a loss of $29 million in the financial year ended March 31 compared with a profit of $285 million in the previous year. Revenue declined 8% to $2.9 billion. The company had $758 billion of assets under management at March 31.
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