Candidates for the CEO position at Legg Mason will soon know where to send their resumes. Five executive recruiting firms are reportedly to be in the running for the rights to find the perfect candidate.

Pensions & Investments reports the the recruiters said to be in the running are New York firms David Barrett Partners, LLC; PrinceGoldsmith, LLC, Global Partners, LLC and Russell Reynolds Associates Inc. ;and Chicago-based Spencer Stuart.

Legg Mason spokesperson Mary Athridge confirmed to The MFWire that Legg is indeed currently searching for a new CEO, and that "it would make sense that they (Legg Mason's board) would hire a recruiting firm" to help with the search. Athridge added that the firm will look at internal and external candidates.

James Hirschmann, Legg Mason's former president and COO, had been viewed many many as a possible successor to Mason in the CEO suite. Hirshmann, however, relinquished his duties at Legg Mason in April, citing personal and family reasons. Hirshmann remained in his role as CEO of Legg Mason subsidiary Western Asset Management (See "Legg Loses Mason's Successor,", April 24. 2007).

Mason has reassumed the role of Legg Mason president.  

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