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Best places to work in money management

Legg Mason Global Asset Management

Employees took time to volunteer in East Baltimore’s Living Classrooms POWERHouse Community Center.

Fifth place, money managers with 500 to 999 employees

AUM: $755 billion

Employees: 779

At Legg Mason (LM) Global Asset Management in Baltimore, CEO Joseph Sullivan is focused on developing leadership potential throughout the organization.

"Our day of conversation on diversity and inclusion is not just a one-off," said Mr. Sullivan. "In raising awareness about the background and orientation of our employees, our shared experiences can drive change and make our business better."

Employees of the three-time winner in Pensions & Investments' Best Places to Work in Money Management program have taken notice.

"Legg Mason has stressed and acted upon the importance of diversity in gender, ethnicity, race and sexual orientation, and how these result in a stronger organizational culture," said one employee. "It goes a long way toward making employees proud to work here."

"Leadership development is critical and available throughout all levels of the company," said Mr. Sullivan of the company's LM DevelopU platform, which also includes a "revamped performance coaching model."

Employees say this development is critical to reinforcing Legg Mason's "No Chalk" motto, developed by founder Chip Mason, which reminds employees to always stay within bounds.

"It's embedded within the culture of our firm around the world," said Mr. Sullivan. "If you get too close to 'out of bounds,' you'll get chalk on your shoes."

"Honesty and transparency is highly valued at Legg Mason," said one employee. "This provides peace of mind when having conversations with supervisors and team members."

But it's not just the work environment that Legg Mason employees value: BPTW survey respondents also cite the company's global giving program, matching grants for charity and its board leadership program to encourage employees to participate on community non-profit boards.