Legg Mason chief: Martin Currie turnaround has already begun

Legg Mason chief executive Joe Sullivan has said Martin Currie is planning further hires as it begins to reposition following its acquisition by the US giant last year.

Sullivan, head of the $707bn firm, said Martin Currie has begun to leverage its US parent’s access to global distribution and seed capital ahead of a fresh push in the UK. The Edinburgh-based firm signalled its intent earlier this month with the hire of Mark Whitehead from Sarasin & Partners to lead its equity income team, now managing £517m of assets. “Martin Currie is a very innovative commercial firm, they are innovating and developing new products and bringing in new people,” Sullivan said. The business has also had its first fund approved for sale in the US in recent weeks as ...