Legg Mason Capital Management CEO Kyle Legg is leaving her post after an 18-year stint with the firm, according to published reports.

Kyle Legg Legg Mason Capital Management CEO

Jennifer Murphy, an executive vice president in charge of LMCM's research team, risk management and new product initiatives, will replace Legg.

Legg joined LMCM in 1991, became president in 1997 and CEO in 2006. She will serve as a consultant for the remainder of the year.

LMCM, the Legg Mason unit that houses the legendary stockpicker Bill Miller, managed $12 billion in assets as of March. 

Edited by: Armie Margaret Lee


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