Build
- Commit to including Baltimore City companies whenever possible, and partner with the BLocal cohort to increase our exposure to other Baltimore City firms for future building needs.
Year One Progress: Planning to consider qualified MBE and WBE construction contractors for future needs.
Year Two Progress: No Update.
Year Three Progress: No Update.
Year Four Progress: No Update.
Hire
- Hire 50% of high school and college interns from Baltimore City high schools, colleges, and universities.
Year One Progress: Hired 26 interns, or 46 percent, from schools in Baltimore City.
Year Two Progress: Hired 26 interns, or 41 percent, from schools in Baltimore City.
Year Three Progress: No Update.
Year Four Progress: No Update.
Buy
- Provide opportunities and access to local Baltimore City suppliers for our goods and services.
Year One Progress: Continuing to explore opportunities for local suppliers.
Year Two Progress: Hosted a symposium and job fair in conjunction with our BLocal subcommittee – Johns Hopkins, BGE, Under Armour, and Whiting Turning – called “Doing Business with Big Business” on Sept. 28.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Survey current spend to analyze what business we can move to Baltimore City as well as consider more Baltimore City–based suppliers for future purchases.
Year One Progress: Continuing to review year-end spend.
Year Two Progress: No Update.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Build an online portal that certified local and minority-, women-, and veteran-owned businesses can use to register as potential suppliers. Additionally, an inbox called supplierdiversity@leggmason.com is being created to collect inquiries from local and diverse suppliers.
Year One Progress: Exploring online portal with technology department.
Year Two Progress: No Update.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Revise our request-for-proposal (RFP) process to question supplier candidates on their presence in Baltimore City, both from a business and human capital perspective.
Year One Progress: Revised our RFP process to gauge supplier candidates’ local presence.
Year Two Progress: No Update.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Restaurant Associates, contracted by Legg Mason to operate a full-service café and event venue in the Legg Mason Tower building, commits in the coming year to increasing its staff who are residents of Baltimore City by 8%, from 51%.
Year One Progress: 53 percent of Restaurant Associates’ staff are Baltimore City residents (10 out of 19).
Year Two Progress: 60 percent of Restaurant Associates’ staff are Baltimore City residents (13 out of 22).
Year Three Progress: No Update.
Year Four Progress: No Update.
Direct Investment
- Hire a full-time resource to help identify specific programs and/or a community that Legg Mason can support directly.
Year One Progress: Hired a full-time resource via Baltimore Corps for a one-year assignment to assist with East Baltimore community initiative. Assignment concludes July 2017.
Year Two Progress: No Update.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Commit to additional funding to community organizations within Baltimore City via the Legg Mason Charitable Foundation.
Year One Progress: Have committed additional funding to community organizations within Baltimore City, including a recently announced expanded partnership with Living Classrooms via a multiyear $1 million pledge to support the P.O.W.E.R House Community Center in East Baltimore.
Year Two Progress: Doubled investment with TRF Development Partners with a focus on East Baltimore. Legg Mason also launched a $1 million partnership with the East Baltimore Revitalization Project and the first $250,000 grant will be used to demolish the Bugle Laundry site and make it shovel-ready for construction of a new health and wellness facility. We committed more than 500 volunteer hours in East Baltimore and increased our partnership with Thread via a financial grant and letting them use Legg Mason as a hub for quarterly meetings.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Starting in the summer of 2016, Legg Mason will fund a program at Morgan State University where high school students interested in accounting or finance will obtain valuable exposure to college while living on campus for a week.
Year One Progress: Currently funding this program at Morgan State University.
Year Two Progress: No Update.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Grow current mentoring programs with Patterson High School and Crossroads School by adding mentors and implementing value-added content.
Year One Progress: Added five mentees from Patterson High School, six mentees from Crossroads School, and 29 total Legg Mason Baltimore mentors in academic year 2016–17.
Year Two Progress: Maintained Crossroads and Patterson mentors for 2017-2018 school year and added a small cohort of tutors at P.O.W.E.R House
Year Three Progress: No Update.
Year Four Progress: No Update.
- Plan to increase number of students participating in annual mentoring day. Participating students come from Boys Hope Girls Hope, Samuel Ready Scholarships, and Baltimore Educational Scholarship Trust.
Year One Progress: Held a successful event in celebration of International Women’s Month, with approximately the same number of attendees as last year.
Year Two Progress: Held a Mentor Day on March 22 and added a cohort of female scholars from CollegeBound.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Launch a Matching Gifts Program and Volunteerism Portal with third-party vendor to enable employees to donate time, talent, and treasure to local community organizations.
Year One Progress: Launched a Matching Gifts Program and Volunteerism Portal for employees.
Year Two Progress: Launched the matching gifts program internationally in FY18 and are investigating a similar program for CBI employees.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Increase number of employees sitting on Baltimore City nonprofit boards.
Year One Progress: Four more employees served on Baltimore City nonprofit boards in 2016.
Year Two Progress: Two additional board seats for Foundation nonprofit partners in 2017.
Year Three Progress: No Update.
Year Four Progress: No Update.
- Further develop Employee Resource Group community outreach initiatives by deepening and expanding their relationships with core Baltimore City community partners. In 2015, Legg Mason employees volunteered 1,300 hours and collected $34,000 over 30 employee resource group events held for the Baltimore City community.
Year One Progress: In 2016, 50 employees volunteered 200 hours over seven events.
Year Two Progress: Employees logged more than 5,000 volunteer hours In FY2017.
Year Three Progress: No Update.
Year Four Progress: No Update.
About Legg Mason
Legg Mason is a global asset management firm with $657 billion in assets under management as of February 29, 2016. The company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
