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Legg Mason Inc (LM)

LM on New York Consolidated

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25 Sep 2017
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Summary

Name Age Since Current Position

Joseph Sullivan

59 2014 Chairman of the Board, President, Chief Executive Officer

Tianqiao Chen

44 2017 Independent Vice Chairman of the Board

Peter Nachtwey

61 2011 Chief Financial Officer, Senior Executive Vice President

Patricia Lattin

52 2000 Chief Human Resource Officer

Ursula Schliessler

58 2015 Executive Vice President, Chief Administrative Officer

Thomas Merchant

49 2013 Executive Vice President, General Counsel, Corporate Secretary

Thomas Hoops

52 2014 Executive Vice President, Head of Business and Product Development

Terence Johnson

44 2013 Executive Vice President, Head - Global Distribution

Frances Cashman

56 2017 Global Head - Communications and Engagement

John Kenney

52 2015 Global Head - Affiliate Strategic Initiatives

John Murphy

67 2014 Lead Independent Director

Robert Angelica

70 2007 Independent Director

Wen-Yu Chiu

47 2017 Independent Director

Carol Davidson

61 2014 Independent Director

Barry Huff

73 2009 Independent Director

W. Allen Reed

70 2015 Independent Director

Margaret Richardson

74 2003 Independent Director

Kurt Schmoke

67 2002 Independent Director

Alan Magleby

IR Contact Officer

Biographies

Name Description

Joseph Sullivan

Mr. Joseph A. Sullivan is the Chairman of the Board, President and Chief Executive Officer of Legg Mason, Inc. Mr. Sullivan has been a director of Legg Mason since February 2013 and has served as our Chairman since October 2014. Mr. Sullivan was elected President, Chief Executive Officer and a member of the Board in February 2013. Before being appointed as President and Chief Executive Officer, Mr. Sullivan served as Interim Chief Executive Officer of Legg Mason from October 1, 2012 to February 11, 2013. Prior to that, Mr. Sullivan oversaw the global distribution operations of Legg Mason. He was elected Senior Executive Vice President of Legg Mason in September 2008 and until January 2011 was responsible for overseeing administrative functions as Chief Administrative Officer. From December 2005 to September 2008, he was responsible for overseeing the fixed income capital markets operations of Stifel Nicolaus, a broker-dealer. From 1993 to December 2005, he oversaw the fixed income capital markets operations of Legg Mason Wood Walker, the company’s broker-dealer subsidiary that was sold in December 2005.

Tianqiao Chen

Mr. Tianqiao Chen is the Independent Vice Chairman of the Board of the Company. Mr. Chen is the Chairman and CEO of Shanda Group, a privately held investment firm which he founded in 1994. Mr. Chen was initially nominated to serve on the Board pursuant to an agreement with Shanda Group and certain of its affiliates. Mr. Chen’s qualifications to serve on our Board include the knowledge, leadership and experience gained in over 25 years of leading the Shanda Group through a variety of ventures, including its pioneering role in the online gaming and online literature industry in China. In addition, Mr. Chen gained public company experience through his involvement with two Shanda subsidiaries that were listed on NASDAQ and one subsidiary that was listed on KOSDAQ.

Peter Nachtwey

Mr. Peter H. Nachtwey is the Chief Financial Officer and Senior Executive Vice President of Legg Mason, Inc., since January 2011. From July 2007 through December 2010, Mr. Nachtwey served as Chief Financial Officer of The Carlyle Group, an alternative investment management firm, where he had responsibility for all of the financial and a number of the operational functions at the firm. Prior to The Carlyle Group, Mr. Nachtwey spent more than 25 years at Deloitte & Touche, LLP, an accounting firm, most recently as Managing Partner of the Investment Management practice.

Patricia Lattin

Ms. Patricia Lattin is the Chief Human Resource Officer of the Company. She was appointed Chief Human Resources Officer in January 2000. Ms. Lattin oversees Legg Mason’s Human Resources department and leads the firm’s efforts in Corporate Social Responsibility and Philanthropy. Ms. Lattin joined Legg Mason in 1997 and has served in a variety of positions in Legg Mason’s Human Resources department, including Head of Employee Relations, Director of Benefits and Director of Employment.

Ursula Schliessler

Ms. Ursula Amelie Schliessler is a Executive Vice President and Chief Administrative Officer of Legg Mason, Inc. Ms. Schliessler oversees Legg Mason's technology, human resources, risk management, internal audit and global fund accounting. Prior to her appointment as Chief Administrative Officer, Ms. Schliessler served as Head of Global Distribution Business Management for Legg Mason, managing day to day operations and aligning strategic initiatives to support the growth of Legg Mason's retail business. Ms. Schliessler has been in senior roles with Legg Mason or predecessor firms since 1988, with a brief interruption between 2007 and 2010. She holds a Bachelor of Commerce degree in Economics and a Master of Commerce degree in Business Economics from the University of the Witwatersrand in Johannesburg, South Africa.

Thomas Merchant

Mr. Thomas C. Merchant is the Executive Vice President, General Counsel and Corporate Secretary of Legg Mason, Inc. Mr. Merchant oversees Legg Mason's legal and compliance departments. Mr. Merchant previously served as Corporate General Counsel and Deputy General Counsel. Mr. Merchant joined Legg Mason as Associate General Counsel in 1998.

Thomas Hoops

Mr. Thomas K. Hoops is the Executive Vice President and Head of Business and Product Development of Legg Mason, Inc. From March 2000 through January 2014, Mr. Hoops held a variety of positions at Wells Fargo Corporation and its predecessors, most recently as Head of Affiliated Managers at Wells Fargo Asset Management. Prior to joining Wells Fargo / Wachovia, he was a Managing Director at a boutique investment bank which specialized in M&A advisory services for emerging growth and middle-market companies and their owners. He began his career as a credit analyst at First Union National Bank in Charlotte.

Terence Johnson

Mr. Terence Johnson is Executive Vice President and Head - Global Distribution of Legg Mason, Inc. Mr. Johnson, since October 2012, he had been serving as interim Head of Global Distribution, overseeing U.S. Distribution, International Distribution, Global Product Development, Marketing, and Administration and Operations of the division. Prior to that, Mr. Johnson headed International Distribution at Legg Mason. Mr. Johnson joined Legg Mason in December 2005 from Citigroup Asset Management following its acquisition by Legg Mason.

Frances Cashman

Ms. Frances Cashman is the Global Head - Communications and Engagement of the Company. She was appointed Global Head of Communications and Engagement in May 2017. Ms. Cashman is responsible for Legg Mason’s communications, marketing, digital experience and brand. Ms. Cashman joined Legg Mason in 1995 and except for a brief period at Stifel Nicholas from 2005 to 2010, has served in a variety of sales management roles for Legg Mason, including, most recently, Co-Head of US Sales.

John Kenney

Mr. John Kenney is the Global Head - Affiliate Strategic Initiatives of the Company. He was appointed Global Head of Affiliate Strategic Initiatives in April 2015. Mr. Kenney is a member of the board of directors of each of Legg Mason’s investment affiliates and provides ongoing strategic support and guidance on business development and operating issues. From 2002 until 2005, Mr. Kenney served in a variety of sales and sales management roles at Legg Mason, including as Managing Director, Co-National Sales Manager of the Legg Mason Fixed Income Capital Markets Group, the capital markets business sold by Legg Mason in 2005. He rejoined Legg Mason in 2011, serving in a variety of roles, including as a Managing Director in Legg Mason’s Corporate Strategy and Business Development Group and as the chief executive officer and head of Legg Mason Global Asset Allocation.

John Murphy

Mr. John V. Murphy is the Lead Independent Director of the Company. Mr. Murphy has been a director of Legg Mason since June 2013 and has served as our Lead Independent Director since October 2014. Mr. Murphy is currently engaged in private investment activities. Mr. Murphy was employed by Korn/Ferry International, an executive search firm, from 2010 to 2012. From 2000 to 2009, Mr. Murphy was employed in various senior positions with OppenheimerFunds Inc., an asset management firm, including Chairman, President and Chief Executive Officer. He also served as a director of over 60 mutual funds in the OppenheimerFunds complex. Prior to joining OppenheimerFunds, he spent eight years with MassMutual Financial Group, OppenheimerFunds’ parent company, in a variety of senior roles. Before that, he was a founding principal of Liberty Financial Companies Inc., an investment management firm. He began his career at Arthur Andersen & Co. in 1972 as an accountant.

Robert Angelica

Mr. Robert E. Angelica is an Independent Director of the Company. Mr. Angelica has been a director of Legg Mason since February 2007 and is currently engaged in private investment activities. From 1999 through December 2006, Mr. Angelica served as the Chairman and Chief Executive Officer of AT&T Investment Management Corporation (“ATTIMCO”), an asset management subsidiary of AT&T Inc. Mr. Angelica’s qualifications to serve on our Board include his extensive financial industry knowledge and substantial leadership experience gained while serving as the Chairman and Chief Executive Officer of ATTIMCO, which was responsible for the investment and administration of more than $80 billion of employee benefit plan assets for AT&T Inc. and certain third parties. Mr. Angelica’s diverse experience includes the development of asset allocation policies and strategies, risk management, selection of external investment managers and trustees, in-house asset management, regulatory compliance and accounting and financial reporting. He was awarded the Chartered Financial Analyst designation. Our Board has determined that Mr. Angelica qualifies as an “audit committee financial expert” under the rules and regulations of the SEC.

Wen-Yu Chiu

Mr. Wen-Yu Chiu is an Independent Director of the Company. He has served as Group President of Shanda Group since November 2012. Mr. Chiu served as Chairman and CEO of Cloudary Corporation, a subsidiary of the Shanda Group and the world’s largest Chinese-language original content platform at the time, until its sale in 2014. From March 2010 until November 2012, Mr. Chiu served as Managing Director and Head of Asia Pacific Technology, Media and Telecom Investment Banking at Bank of America Merrill Lynch. Mr. Chiu was originally nominated to serve on the Board pursuant to an agreement with Shanda Group and certain of its affiliates. Mr. Chiu’s qualifications to serve on our Board include his extensive experience in leading international financial services organizations, gained through his senior management positions in the U.S. and Asian offices of Morgan Stanley, Goldman Sachs, Bank of America Merrill Lynch and Nomura. In addition, Mr. Chiu has a strong track record of leadership roles in technology and Internet companies, gained through his in-depth experience at Shanda Group and IBM.

Carol Davidson

Mr. Carol Anthony Davidson, CPA is an Independent Director of the Company., since May 1, 2014. Mr. Davidson has been a director of Legg Mason since May 2014, and is currently engaged in private investment activities. From January 2004 to September 2012, Mr. Davidson served as the Senior Vice President, Controller and Chief Accounting Officer of Tyco International Ltd. (“Tyco”). Mr. Davidson has served as a director of DaVita HealthCare Partners, Inc. since December 2010, a director of Pentair Ltd. since October 2012 and a director of TE Connectivity Ltd. since March 2016. Mr. Davidson also serves on the Board of Governors of the Financial Industry Regulatory Authority (“FINRA”). From 2011 to 2015, Mr. Davidson served as a member of the Board of Trustees of the Financial Accounting Foundation, which oversees financial accounting and reporting standard setting processes for the United States. Mr. Davidson’s qualifications to serve on our Board include his more than 30 years of leadership experience across multiple industries, including his leadership roles at Tyco, six years at Dell Inc., where he held various leadership roles, including vice president, audit, risk and compliance, and vice president, corporate controller and 16 years at Eastman Kodak Company, a provider of imaging technology products and services, in a variety of accounting and financial leadership roles. In addition, Mr. Davidson, a certified public accountant, has a strong track record of implementing governance and controls processes. Our Board has determined that Mr. Davidson qualifies as an “audit committee financial expert” under the rules and regulations of the SEC.

Barry Huff

Mr. Barry W. Huff is an Independent Director of the Company. Mr. Huff has been a director of Legg Mason since June 2009 and is currently engaged in private consulting. After his retirement in May 2008 from Deloitte & Touche USA LLP (“Deloitte”), an accounting firm, until March 2009, Mr. Huff provided consulting services to Deloitte. From 1995 to May 2008, Mr. Huff served as Vice Chairman, Office of the Chief Executive Officer at Deloitte. Mr. Huff’s qualifications to serve on our Board include his substantial accounting and auditing experience and expertise. Mr. Huff served as Deloitte’s National Managing Director for their Accounting & Auditing Practice in the United States and Chairman of its Global Accounting & Auditing Committee. Mr. Huff’s experience includes oversight and advisory services provided to numerous Deloitte clients in the United States and globally in various industries, including financial services, manufacturing and regulatory, and supervision of risk management activities related to Deloitte’s Accounting & Auditing Practice. Our Board has determined that Mr. Huff, a certified public accountant, qualifies as an “audit committee financial expert” under the rules and regulations of the SEC.

W. Allen Reed

Mr. W. Allen Reed is an Independent Director of the Company. He has been a director of Legg Mason since April 2006 and served as our independent Chairman from September 2012 through July 2013. From January 2006 to March 2006, Mr. Reed served as Chairman of the Board of General Motors Asset Management Corporation (“GMAMC”), the investment management subsidiary of General Motors Corporation, where he served as Vice President until March 2006. He also served as Chairman of the Board and Chief Executive Officer of General Motors Trust Bank, N.A. until March 2006; as Chief Executive Officer and President of GMAMC and General Motors Investment Management Corporation until December 2005; and as Chairman of the Board and Chief Executive Officer of General Motors Trust Company until March 2006. Mr. Reed served as Senior Advisor to Aetos Capital from 2006 to 2011, as a director of Temple-Inland Industries from 2000 to February 2012 and as a director of General Motors Acceptance Corp from September 1994 to March 2006. Mr. Reed has also served as a director of numerous mutual funds (96 as of December 31, 2015) in the Morgan Stanley mutual funds complex since 2006, and as Chairman of the Investment Committee of the Auburn University Foundation Fund from 2012 to 2014.

Margaret Richardson

Ms. Margaret Milner Richardson is an Independent Director of the Company., since November 6, 2003. She is currently engaged in private consulting and investment activities. Ms. Richardson served as a director of Jackson Hewitt Tax Service Inc. from June 2004 through August 2011. Ms. Richardson’s qualifications to serve on our Board include her experience as a partner of Ernst & Young LLP where she served as the National Director of IRS Practice and Procedure and as an advisor to the Foreign Investment Advisory Council in Russia. Ms. Richardson also served as U.S. Commissioner of Internal Revenue. She has been an attorney for more than 40 years and practiced tax law with Sutherland, Asbill and Brennan in Washington, D.C. Ms. Richardson was a member of the Internal Revenue Service Commissioner’s Advisory Group and chaired the group for a year.

Kurt Schmoke

Mr. Kurt L. Schmoke is an Independent Director of the Company., since January 28, 2002. Since July 2014, Mr. Schmoke has served as President of the University of Baltimore. Mr. Schmoke served as Vice President and General Counsel of Howard University from July 2012 until July 2014. Mr. Schmoke was Dean of the School of Law at Howard University from January 2003 to July 2012. He has been a director of The McGraw-Hill Companies, Inc. (now S&P Global Inc.) since 2003. Mr. Schmoke’s qualifications to serve on our Board include his substantial education, legal, government regulation and public policy experience. Mr. Schmoke gained his experience serving as the Dean of the Law School at Howard University, partner at the law firm of Wilmer Cutler & Pickering, Mayor of Baltimore, the State’s Attorney for Baltimore, a member of the Council on Foreign Relations and a member of President Jimmy Carter’s domestic policy staff.

Alan Magleby

Basic Compensation