Legg Mason, Inc., through its subsidiaries, provides investment management and related financial services to institutional and individual clients, company-sponsored mutual funds, and other investment vehicles. The company operates in three divisions: Managed Investments, Institutional, and Wealth Management. The Managed Investments division sponsors and manages domestic and international equity, fixed income, and money market mutual funds, as well as closed-end funds and other proprietary funds. This division also provides asset management services to retail separately managed account programs, such as wrap programs. The Institutional division provides asset management services to institutional clients and the institutional businesses. This division also manages a range of domestic, international and global equity, balanced, fixed income, and cash management portfolios for domestic and international institutional clients, including pension and other retirement plans, corporations, insurance companies, endowments and foundations, and governments. The Wealth Management division provides discretionary investment management services and products to high net worth individuals and families, endowments, foundations, and institutions. The company offers its products and services directly, as well as through various financial intermediaries primarily in the United States and the United Kingdom. Legg Mason, Inc. was founded in 1899 and is headquartered in Baltimore, Maryland with additional offices in Australia, Bahamas, Brazil, Canada, Chile, Dubai, France, Germany, Italy, Japan, Luxembourg, Poland, Singapore, Spain, Taiwan, and the People's Republic of China.