Asset manager Legg Mason Inc. (LM) said it has appointed Joseph Sullivan as President and Chief Executive and a board member, effective immediately. Further, it announced that Dennis Kass, a veteran leader in the asset management industry, would join the Legg Mason Board, effective April 1, 2013.
Since October 1, 2012, Sullivan has served as Legg Mason's Interim Chief Executive. He joined Legg Mason in 2008 as Senior Executive Vice President and Chief Administrative Officer and more recently, served as Head of Global Distribution.
Further to his roles at Legg Mason, Sullivan also serves as a current Trustee and former Chair of the Securities Industry Institute, was a former Chair of the Fixed Income Committee of the National Association of Securities Dealers, a Board Member of the Bond Market Association and a member of the New York Stock Exchange Hearing Board. Kass retired in 2012 as CEO of Jennison Associates, an asset management company wholly-owned by Prudential Financial, Inc., having served in this position since 2003.
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