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Legg Mason shares up 15% since Fetting's departure
Legg Mason Inc.’s stock price enjoyed a 15 percent increase over the last five months with Joseph A. Sullivan as interm CEO. Now the pressure will be on Sullivan to keep the momentum going as he begins the job permanently.
The Baltimore money manager appointed Sullivan as its interim CEO on Oct. 1, following Mark R. Fetting’s resignation as head of the company. On Wednesday, Sullivan was named to the job on a permanent basis.
Shares of Legg closed at $24.30 on Oct. 1, reflecting a 62 percent…
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