BALTIMORE, June 2, 2014 /PRNewswire/ — Legg Mason, (NYSE: LM) announced today that it has completed the acquisition of QS Investors, a leading customized solutions and global quantitative equities provider based in New York, effective May 31, 2014. QS Investors had assets under management (AUM) of $4.9 billion and assets under advisement (AUA) of $96.5 billion as of April 30, 2014.

About Legg Mason

Legg Mason is a global asset management firm with $673 billion in assets under management as of April 30, 2014. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

About QS Investors

Formed in 1999 within a large asset management firm, QS Investors, LLC is an investment firm providing asset management and advisory services to a diverse array of institutional clients. QS Investors delivers disciplined and systematic solutions that address clients’ complex investment challenges. The team has developed approaches to integrating quantitative and behavioral investment insights and dynamically weighting opportunities in response to changing conditions in the economy and the market. Risk identification, assessment and management are an intrinsic part of their process. QS Investors offers a broad spectrum of strategies which includes actively managed US and Global equities, Liquid Alternatives, and Customized Solutions.

SOURCE Legg Mason