Legg Mason Capital Management's chief investment strategist resigns

Michael Mauboussin joined the Baltimore-based firm in 2004

January 04, 2013|By Eileen Ambrose, The Baltimore Sun

Legg Mason Capital Management's chief investment strategist, Michael J. Mauboussin, resigned as of Jan. 2, said Mary Athridge, Legg Mason Inc.'s spokeswoman.

Mauboussin's resignation is not a surprise, and he's expected to announce his plans in the next couple of weeks, she said. Right now, Athridge said, he is focused on promoting his newest book, "The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing."

Before joining the Capital Management subsidiary of Baltimore-based Legg Mason in 2004, Mauboussin was the managing director and chief U.S. investment strategist at Credit Suisse.

At Legg Mason Capital, Mauboussin worked closely with its chairman Bill Miller, the former manager of the well-known Legg Mason Value Trust. At its peak about a half-dozen years ago, Legg Mason Capital Management had $70 billion in assets under management. As of the last quarter, assets totaled $8 billion.

Mauboussin, who lives in and worked from Connecticut, also is an adjunct professor of finance at Columbia University's business school. Mauboussin could not be reached for comment.

Baltimore Sun Articles
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.