Western Asset Management Co CEO James Hirschmann

Western Asset Management Co CEO James Hirschmann

Valerie Caviness/NYSE Euronext via Bloomberg

Led by Chief Executive Officer James Hirschmann, Western Asset added risk-management tools and professionals starting in 2008 in an effort to break out of its slump. Including money-market funds, the division held $447.1 billion, or 67 percent of Legg Mason’s assets, as of June 30.