Legg Mason is planning to spin off the international stock team of its Brandywine Global Investment Management unit. In Thursday's WSJ Fund Track, Kaja Whitehouse reported that the Baltimore firm decided to turn the team, led by Paul Ehrlichman, into a separate subsidiary. The new entity has yet to be named.

Legg Mason's new CEO Mark Fetting made the comments in an earnings call yesterday. Fetting also said that he forsees improvements the performance of Legg's funds and plans to shore up its cash funds that were battered by investments in SIVs.  

Edited by: Erin Kello


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