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Tuesday, January 29, 2013

RPT-Legg Mason board meets to discuss, possibly decide, CEO-sources, (NYSE: LM)

Legg Mason's board of directors is expected to meet Tuesday to discuss - and possibly decide - who will be its next chief executive officer, according to two people familiar with the situation.The Baltimore-based mutual fund company has whittled its list of candidates to four, said one of the people and another person familiar with the situation. These people declined to be identified because they are not allowed to speak publicly about the matter. It is unclear when the board might announce its decision.Among senior Legg Mason employees, the feeling is that Joseph Sullivan, the firm's sales chief and interim CEO, is the favorite for the job, said two other people who asked to be anonymous because they are not allowed to speak to the press. Sullivan has served as interim CEO since Mark Fetting stepped down last October.Mary Athridge, a Legg Mason spokeswoman, declined to comment.

Legg Mason, Inc. (Legg Mason) is a global asset management company. Shares of LM remained unchanged at $27.99. In the past year, the shares have traded as low as $22.36 and as high as $29.49. On average, 1576910 shares of LM exchange hands on a given day and today's volume is recorded at 0.