Legg Mason has promoted its Australia and New Zealand country head, Andy Sowerby to the role of head of Asia Pacific (ex-Japan). This is an expanded role to that which Singapore-based Lennie Lim has been in. Lim is due to retire next March.
Sowerby will continue his position as country head and managing director for Legg Mason Australia and New Zealand, a role he has held since August 2016. Prior to that he was the global head of distribution for one of Legg’s affiliate managers, Martin Currie, based in Edinburgh.
In his new role Sowerby will continue to report to Terry Johnson, head of global distribution and a member of the company’s executive management group. Johnson said: “Andy has more than 25 years of experience in senior distribution roles, including board-level experience at both Investec Asset Management and Martin Currie. His management experience, coupled with his strong track record over the past three years leading our Australasian business, has made him the ideal candidate to take on additional responsibilities in this region. Lennie has been instrumental in establishing many of our business relationships in Asia and we would like to thank him for his contribution.”
Lim has been with Legg Mason for more than 12 years and will be transitioning his duties to Sowerby over the course of the next few months.
Legg Mason is a diversified global asset management firm with nine investment affiliates spanning fixed income, equity, alternative and liquidity asset classes.
Greg Bright is publisher of Investor Strategy News (Australia)