Legg Mason, Inc. was an American investment management and asset management firm headquartered in Baltimore, founded in 1899 and acquired by Franklin Templeton Investments as of July 2020. As of December 31, 2019, the company had $730.8 billion in assets under management, including $161.2 billion in equity assets, $420.2 billion in fixed income assets, $74.3 billion in alternative assets, and $75.1 billion in liquidity assets.

In 1899, George Mackubin & Co., predecessor to Legg & Co., was founded in Baltimore, Maryland. It got its start selling stocks out of a back office in the Baltimore Stock Exchange in 1899. In 1970, it had offices in San Francisco, New York, as well as several in Maryland, with over 400 employees. It was best known for its expertise in the life and casualty insurance industry.

In 1949, after the departure of Mackubin, John C. Legg Jr. named the company after himself.

In 1962, Mason & Co., a stock brokerage, was founded by Raymond A. "Chip" Mason in Newport News, Virginia.

In 1967, Mason & Co., with over 80 employees in 4 offices, became one of the largest Virginia-based stock brokerages.

In 1970, Mason & Co. was acquired by Legg & Co., forming Legg Mason & Co., Inc., with headquarters in Baltimore, Maryland. Legg & Co. was founded in 1962.

In 1973 Legg Mason & Co. merged with New York securities broker Wood Walker. Wood Walker had been founded in 1869.

In 1975, Raymond A. Mason became chairman and CEO, adding to his existing role as president.