Legg Mason has added John Murphy and John Myers to its Board of Directors, effective immediately. Murphy was appointed to the Audit and Compensation Committees and Myers was appointed to the Nominating & Corporate Governance and Risk Committees.
The Board will remain at 14 members once Dennis Beresford and Nicholas St. George retire from the Board next month.
Previously, Murphy spent the majority of his career in the investment management industry in a variety of capacities, serving as chairman and chief executive officer of OppenheimerFunds prior to his retirement as chairman in 2009. Myers is the retired president and chief executive officer of GE Asset Management.
Joseph Sullivan, president and chief executive officer of Legg Mason, said, “With their decades of experience and deep industry knowledge, we believe that they will be invaluable resources as we execute against our plan to expand our global business, add compelling product capabilities in high demand categories and distribute those products in the most efficient and effective way. I would also like to thank Denny and Nick for their guidance, leadership and dedication to Legg Mason as we evolved into a global asset management firm.”
Legg Mason managed some $655 billion in global assets as of April 30, 2013.