Capital Briefs: Legg Mason Wins Federal Thrift Charter

Baltimore-based Legg Mason Inc. got approval Friday to convert its state thrift to a federal charter.

The new thrift, Legg Mason Trust Bank, will offer trust services to clients of the company's brokerage and investment banking subsidiary, Legg Mason Wood Walker.

The company applied to the Office of Thrift Supervision for a federal charter last May.

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