[6] In 1973 Legg Mason & Co. merged with New York securities broker Wood Walker.

[6] In 1975, Raymond A. Mason became chairman and CEO, adding to his existing role as president.

[4] In July 2002, the company sold its stock brokerage subsidiary to Raymond James Financial.

[5] In 2005, the company transferred its Private Client and Capital Markets business to Citigroup in exchange for Citigroup's asset management business in a $3.7 billion transaction, turning Legg Mason into the 5th largest money management firm in the U.S.[5] In 2006, fund manager Bill Miller's streak of beating the S&P 500 15 years in a row ended.

[4] In October 2009, Nelson Peltz joined the board of directors of the company after acquiring a stake.

[5][10] In July 2020, Franklin Templeton Investments acquired Legg Mason for $4.5 billion.