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  <xsd:element abstract="true" id="lm_NotesToConsolidatedFinancialStatementsAbstract" name="NotesToConsolidatedFinancialStatementsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="lm_PaymentsUnderLiquidityFundSupportArrangements" name="PaymentsUnderLiquidityFundSupportArrangements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="lm_ProceedsFromPaymentsForInvestingActivitiesAbstract" name="ProceedsFromPaymentsForInvestingActivitiesAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="lm_ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" name="ProceedsFromSalesAndMaturitiesOfInvestmentSecurities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="lm_PurchasesOfInvestmentSecurities" name="PurchasesOfInvestmentSecurities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="lm_RealizedGainLossOnSaleOfStructuredInvestmentVehicleSecurities" name="RealizedGainLossOnSaleOfStructuredInvestmentVehicleSecurities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="lm_SharesExchangeableIntoCommonStockMember" name="SharesExchangeableIntoCommonStockMember" nillable="true" substitutionGroup="xbrli:item" type="us-types:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="lm_SharesExchangeableIntoCommonStockValue" name="SharesExchangeableIntoCommonStockValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="lm_SharesIssuedDuringPeriodValueDeferredCompensationNet" name="SharesIssuedDuringPeriodValueDeferredCompensationNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="lm_SharesIssuedToEmployeeStockTrustPlans" name="SharesIssuedToEmployeeStockTrustPlans" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="lm_TransactionRelatedCompensation" name="TransactionRelatedCompensation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="lm_UnrealizedGainsLossesOnFundSupport" name="UnrealizedGainsLossesOnFundSupport" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="lm_PaymentsOnEquityUnitsExchange" name="PaymentsOnEquityUnitsExchange" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="lm_RecognitionOfConversionValueOfSeniorNotesNetOfTaxPursuantToNewAccountingRequirement" name="RecognitionOfConversionValueOfSeniorNotesNetOfTaxPursuantToNewAccountingRequirement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="lm_EquityUnitsExchangedIssued" name="EquityUnitsExchangedIssued" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="lm_StockholdersEquityAsPreviouslyReported" name="StockholdersEquityAsPreviouslyReported" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
</xsd:schema>
