Raymond Mason, Who Built Up Legg Mason for 46 Years, Dies at 88

Raymond Mason, who pursued mergers and acquisitions over a four-decade span to expand Legg Mason Inc. into one of the largest money managers in the US, has died. He was 88.

He died on Aug. 22 in Naples, Florida, according to a statement from his family, which didn’t provide a cause.

Raymond Mason in 2002.

Photographer: Michael Williamson/The Washington Post/Getty Images

In 1962, with $200,000 borrowed from local businessmen, Mason opened his own brokerage, Mason & Co., in Newport News, Virginia. He was 25 at the time. The firm grew to six offices with 60 brokers by 1970, when it merged with Legg & Co., a Baltimore ...