SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549

                                    FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934

         Date of Report(Date of earliest event reported): March 12, 1997

                      Lexington Global Asset Managers, Inc.
             (Exact name of Registrant as specified in its charter)

                                    Delaware
         (State or other jurisdiction of incorporation or organization)

                         0-26868               22-3395036
                     (Commission File No.) (I.R.S. Employer
                                            Identification No.)
PARK 80 WEST PLAZA TWO
SADDLE BROOK, NJ 07663
(Address of principal executive offices)  (Zip code)

                                                            (201) 845-7300
               (Registrant's telephone number including area code)




<PAGE>



Item 4.  Changes in Registrant's Certifying Accountant

     (a) 1. Lexington Global Asset Managers, Inc. (the "Company") terminated its
audit  relationship  with its  former  principal  accountant,  Coopers & Lybrand
L.L.P.  ("C & L"), on March 6, 1997. On that same day, KPMG Peat Marwick  L.L.P.
was engaged as principal accountant for the Company.

     2. C & L's report on the  financial  statements  for the past two years did
not contain an adverse  opinion or disclaimer of opinion,  and was not qualified
or modified as to uncertainty, audit scope, or accounting principles.

     3. The decision to change  principal  accountants  was  recommended  by the
Audit Committee and approved by the Board of Directors of the Company.

     4. During the  Company's  two most recent  fiscal years and any  subsequent
interim period preceding such termination,  there were no disagreements with the
former accountant on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreement(s),  if
not resolved to the satisfaction of the former accountant,  would have caused it
to make  reference to the subject  matter of the  disagreement(s)  in connection
with its report.  

     5. There were no  reportable  events of the type  described in Item 304 (a)
(1) (v) (A) through (D) of Regulation S-K. [text for 304(a)(2)]

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c)         Exhibits:

EXHIBIT No 16  Letter re Change in Certifying Accountant





                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                      Lexington Global Asset Managers, Inc.

March 12, 1997                       By: /s/Richard M. Hisey
--------------                           -------------------
Date                                Richard M. Hisey, Executive Vice President,
                                     Chief Financial Officer and Treasurer











                            Coopers & Lybrand L.L.P.
                           1301 Avenue of the Americas
                          New York, New York 10019-6013

                                 March 11, 1997



Securities and Exchange Commission
450 Fifth Street, N.W.
Washington D.C. 20549

Gentlemen:

We have read the statements made by Lexington Global Asset Managers,  Inc. (copy
attached)  which we understand  will be filed with the  Commission,  pursuant to
item 4 of Form 8-K,  as part of the  Company's  Form 8-K report for the month of
March, 1997. We agree with the statements concerning our Firm in such Form 8-K.

                                                              Very truly yours,


                                                  /s/Coopers & Lybrand L.L.P
                                                    Coopers & Lybrand L.L.P.
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{"company-data": {"conformed-name": "LEXINGTON GLOBAL ASSET MANAGERS INC", "cik": "0001001540", "assigned-sic": "6199", "irs-number": "223395036", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-26868", "film-number": "97555697"}, "business-address": {"street1": "PARK 80 W", "street2": "PLAZA II", "city": "SADDLE BROOK", "state": "NJ", "zip": "07763", "phone": "2018457300"}, "mail-address": {"street1": "PARK 80 WEST", "street2": "PLAZA TWO", "city": "SADDLE BROOK", "state": "NJ", "zip": "07763"}}
SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934

         Date of Report(Date of earliest event reported): March 12, 1997

                      Lexington Global Asset Managers, Inc.
             (Exact name of Registrant as specified in its charter)

                                    Delaware
         (State or other jurisdiction of incorporation or organization)

                         0-26868               22-3395036
                     (Commission File No.) (I.R.S. Employer
                                            Identification No.)
PARK 80 WEST PLAZA TWO
SADDLE BROOK, NJ 07663
(Address of principal executive offices)  (Zip code)

                                                            (201) 845-7300
               (Registrant's telephone number including area code)
Item 4.  Changes in Registrant's Certifying Accountant

     (a) 1. Lexington Global Asset Managers, Inc. (the "Company") terminated its
audit  relationship  with its  former  principal  accountant,  Coopers & Lybrand
L.L.P.  ("C & L"), on March 6, 1997. On that same day, KPMG Peat Marwick  L.L.P.
was engaged as principal accountant for the Company.

     2. C & L's report on the  financial  statements  for the past two years did
not contain an adverse  opinion or disclaimer of opinion,  and was not qualified
or modified as to uncertainty, audit scope, or accounting principles.

     3. The decision to change  principal  accountants  was  recommended  by the
Audit Committee and approved by the Board of Directors of the Company.

     4. During the  Company's  two most recent  fiscal years and any  subsequent
interim period preceding such termination,  there were no disagreements with the
former accountant on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreement(s),  if
not resolved to the satisfaction of the former accountant,  would have caused it
to make  reference to the subject  matter of the  disagreement(s)  in connection
with its report.  

     5. There were no  reportable  events of the type  described in Item 304 (a)
(1) (v) (A) through (D) of Regulation S-K. [text for 304(a)(2)]

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c)         Exhibits:

EXHIBIT No 16  Letter re Change in Certifying Accountant

                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                      Lexington Global Asset Managers, Inc.

March 12, 1997                       By: /s/Richard M. Hisey
--------------                           -------------------
Date                                Richard M. Hisey, Executive Vice President,
                                     Chief Financial Officer and Treasurer

                            Coopers & Lybrand L.L.P.
                           1301 Avenue of the Americas
                          New York, New York 10019-6013

                                 March 11, 1997

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington D.C. 20549

Gentlemen:

We have read the statements made by Lexington Global Asset Managers,  Inc. (copy
attached)  which we understand  will be filed with the  Commission,  pursuant to
item 4 of Form 8-K,  as part of the  Company's  Form 8-K report for the month of
March, 1997. We agree with the statements concerning our Firm in such Form 8-K.

                                                              Very truly yours,

                                                  /s/Coopers & Lybrand L.L.P
                                                    Coopers & Lybrand L.L.P.