Courtesy Citybizlist – The Board of Directors of Legg Mason, Inc. (NYSE: LM), one of the world’s largest global asset management firms, announced that it has appointed Joseph A. Sullivan President and Chief Executive Officer and a member of the Board of Directors, effective immediately. In addition, it announced that Dennis M. Kass, a veteran leader in the asset management industry, will join the Legg Mason Board, effective April 1, 2013.
Since October 1, 2012, Mr. Sullivan has served as Legg Mason’s Interim Chief Executive Officer. He joined Legg Mason in 2008 as Senior Executive Vice President and Chief Administrative Officer and more recently, served as Head of Global Distribution.
W. Allen Reed, Legg Mason’s Non-Executive Chairman, who led the Board’s Search Committee, said, “Following a very comprehensive search, that considered a broad list of highly qualified candidates, Joe was deemed by the Board to have the best combination of personal management skills and professional experience to lead Legg Mason forward. The selection process included not only the Search Committee and the Board, but also the leaders of our affiliate managers and senior corporate leadership.