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Legg Mason Names New CEO

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Legg Mason Inc. on Monday named Mark R. Fetting president and chief executive officer of the global asset management firm. Co-founder, chairman and former president and CEO Raymond A. "Chip" Mason will serve as nonexecutive chairman.

Fetting, 53, joined Baltimore-based Legg Mason in 2000. He was senior executive vice president, responsible for the firm's worldwide mutual fund and managed account businesses.