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September 11, 2008

Legg Mason appoint head of the Americas

by Richard Kilner

Story link: Legg Mason appoint head of the Americas

Legg Mason has announced the appointment of David R. Odenath as head of the Americas.

In joining Legg Mason he leaves behind Prudential Financial, where he was president of Prudential Annuities and co-head of International Retirement.

During his tenure Prudential constructed a forward-thinking, top tier variable annuity business built upon successfully integrating new acquisitions and organic growth.

Over a five year period the annuity business’s adjusted income rose from a moderate loss to $700m profit, with sales skyrocketing from $2bn to $12bn.

Earlier in his career he also held posts with Paine Webber and Hyperion Capital.

In his new post, Odenath will be responsible for mutual fund and retail managed account business, supervision of Legg Mason Capital Management, Corporate Marketing and Communications, Royce & Associates and ClearBridge Advisors.

Odenath will be directly responsible to Mark R. Fetting, president and chief executive officer.

 

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