Legg Mason Names Joseph Sullivan CEO in Bid to End Redemptions

Legg Mason Names Joseph Sullivan CEO in Bid to End Redemptions

Andrew Harrer/Bloomberg

Legg Mason this month reported a loss of $453.9 million, or $3.45 a share, for the three months ended Dec. 31, the biggest quarterly shortfall since it posted a $1.5 billion loss at the end of 2008.