Legg Mason's recently installed CEO took time to reassure shareholders that the company will right the ship in his first annual shareholders' meeting since taking the reins at the Baltimore fund firm in January. The Baltimore Business Journal reports that Mark Fetting told those gathered at the meeting that Legg hopes to use cash it raised earlier this year from the sale of $1.3 billion in bonds to Kohlberg Kravis Roberts, and sale $1 billion in equity units, to play "defense and offense." The examples he cited were the further shoring up of the company's money market funds, the pursuit of more distribution opportunities for mutual fund and even the pursuit of new acquisitions. 

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