Legg Mason is a diversified group of global asset management firms ('affiliates') who are recognized for their proven investment expertise and long-term performance.

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Legg Mason announces acquisition of QS Investors

Hand Shake

Legg Mason has announced a definitive agreement to acquire QS Investors, a leading customized solutions and global quantitative equities provider based in New York, with $4.1bn in assets under management and nearly $100bn in assets under advisory.

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The Greatest Trade Ever

The New York Post reports that John Paulson, the hedge fund manager who paid himself $3.7bn last year after that spectacular trade shorting the subprime market, lost some ground in July - although not much. The newspaper says that Paulson's six hedge funds fell about 3.7% over the month.

BofA, BNP, Citi, Deutsche, Lazard, FX Trading

Bloomberg reports that Bank of America and French bank BNP Paribas (BNP) are being sued by Biola, a Christian university in California, which claims that the banks 'conspired to reap 'excessive profits' by selling it $84.2m of interest-rate derivatives at inflated prices'.

Hand Shake

Legg Mason announces acquisition of QS Investors

Legg Mason has announced a definitive agreement to acquire QS Investors, a leading customized solutions and global quantitative equities provider based in New York, with $4.1bn in assets under management and nearly $100bn in assets under advisory.

Bear, Citigroup, Goldman, Lehman, Distressed Debt, M&A

The Wall Street Journal reports that Bear Stearns is opening its doors to the main Democratic and Republican presidential candidates. CEO Jim Cayne said that 'people here are besieged by friends and uncles and brothers to give money'. Cayne believes that seeing the contenders up close and personal will 'take a load off everyone' and enable senior bankers and executives to make an informed decision as to who to throw their lot in with. Bear will invite its senior managing directors to attend separate 90-minute sessions with the political big-wigs.

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