Legg Mason announced that it has appointed Dennis M. Kass, an industry veteran, as non-executive Chairman of the Board.
Kass succeeds W. Allen Reed, who was appointed non-executive chairman of the Legg Mason Board in September of 2012. Reed successfully oversaw a strategic review of the company's business model and operations and chaired the Search Committee effort that led to the appointment of the company's CEO in February of this year. Reed will continue as a member of the Board and as Chairman of the Finance Committee. He has served as a director of Legg Mason since 2006.