Legg Mason, the $850bn (€702bn) Baltimore-based fund manager, has named Allen Reed, former chairman of General Motors' investment management subsidiary, to its board of directors.

Reed retired as chairman of GM Asset Management last month. There he was responsible for managing $165bn in benefit fund assets. He had been with the automaker since 1994.

Matthew Smith in New York

Citigroup

Legg Mason

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Legg Mason appoints ex-GM Reed

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