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Western Asset's Leech Leaves CIO Role Amid SEC, DOJ Probes
By
Janet Levaux
August 23, 2024 at 10:01 AM
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What You Need To Know
- Regulators are looking into if some clients were favored over others in the allocation of gains and losses from derivatives trades.
- Western Asset, with $381 billion in assets, is one of the original California bond giants.
- Franklin Resources, which has about $1.6 trillion in assets, acquired Western as part of its 2020 purchase of Legg Mason.
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