Legg Mason is once again in the crosshairs of activist investor Nelson Peltz, who has a long history with the firm. While the Baltimore asset manager would do well to listen to some of his advice, turning around its fortunes once again will take even bolder action this time around. Trian Fund Management has taken a stake in Legg Mason and has been in talks with the firm’s management and board, according to a person with knowledge of the matter. Trian believes cost cutting is needed to bring the firm’s margins in line with...

Source: Wall Street Journal May 16, 2019 09:22 UTC