Edmund J. Cashman Jr., 65, Legg Mason executive

November 09, 2001|By Laurie Willis | Laurie Willis,SUN STAFF

Edmund J. Cashman Jr., a Legg Mason Inc. executive who loved playing golf and carefully balanced his professional and personal lives, died Wednesday of a heart attack at his Ruxton home. He was 65.

He was senior executive vice president at Legg Mason, responsible for equity and fixed-income capital markets. He had joined the business - then Mason & Co. in Newport News, Va. - in 1966.

Mr. Cashman was born in Hempstead, N.Y., and graduated in 1954 from Chaminade High School, a Catholic boys school in Mineola, N.Y. He earned a bachelor's degree in business four years later at St. Michael's College in Vermont.

At his death, Mr. Cashman was a member of the college's board of trustees, a position he had held since 1983, and was chairman of the school's Visions fund-raising campaign. Last fall, he pledged $1.5 million to the school to establish a chair in business.

Mr. Cashman served three years in the Marine Corps and was a securities analyst with Hayden Stone Inc. in New York City before being introduced to Mason & Co. by longtime friend Charles Bacigalupo of Towson, who retired from the company in May. They had attended grammar school together on Long Island.

"Ed was a wonderful guy," Mr. Bacigalupo said. "He was a very loyal person. Somebody asked me this morning about him, and I said he was the kind of guy you'd love to have in your foxhole if you were in battle."

"He had virtually no temper," said Raymond "Chip" Mason, chairman, president and chief executive officer of Legg Mason. "He was one of the most even-tempered persons I've ever known. He always had a positive attitude. I really couldn't tell you one person who did not like him."

Mr. Cashman was enjoyable to be around, Mr. Mason said. "He always had a joke. On the business side, there probably isn't a firm in the U.S. that didn't know him because he operated in the syndicated area, where you put underwritings together. He just knew a tremendous amount of people in the business. We've been getting inundated with calls."

Equally impressive was the way he juggled his career and family, friends say.

"He balanced his life," Mr. Mason said. "He always did. He had some time for play. He certainly had time for his family, and certainly time for his work."

Mr. Cashman's son Robert "Bo" Cashman of San Francisco said his father put family first.

"There's a number of just strong values that he has taught all of his children, and a lot of them are related to family," he said. "For as long as I can remember, he made it home for dinner. Whenever he was in town, we as a family had dinner together, and he felt very strongly about that."

Since Mr. Cashman died, his son also has gotten a good sense of the kind of businessman his father was through conversations with his colleagues.

"In talking to people who have known him longer than I have, the one thing that I keep hearing is, people that I always thought my father admired so much ... are all saying he was a very honorable man and they admired everything that he stood for. He treated all people equally, regardless of whether it was work-related or he knew them through one of his hobbies or a neighbor or the person delivering the mail."

In addition to his son, Mr. Cashman is survived by his wife of 37 years, the former Susan Taylor; another son, Jeffrey Cashman, and a daughter, Mary Vasile, both of Towson; and three grandchildren.

A memorial service will be held at 11 a.m. tomorrow at St. Ignatius Roman Catholic Church, 740 N. Calvert St., in Baltimore.

The family suggested donations to St. Michael's College, 1 Winooski Park, Colchester, Vt. 05439 or to St. Ignatius Loyola Academy, 740 N. Calvert St., Baltimore 21201.

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