Legg Mason looks to expand in Asia, says CEO

Group wants to grow in equity investment capabilities

US-BASED global asset management group Legg Mason is seeking expansion in Asia, particularly in terms of its equity investment capability.

Joseph Sullivan, the group's president and chief executive, says he works on the expansion plans "virtually every day". It is not yet decided whether the expansion will be organic in nature, or through acquisitions, or a combination of both.

"For Legg Mason to continue to maintain leadership, let alone to expand that position, we do need to grow substantially in Asia. In many respects we're a relatively new entrant ... We've made a commitment to Asia. We will continue to accelerate and expand our investments, certainly in Singapore but also in Taipei, Shanghai...

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