Legg Mason Makes Senior Wealth Management Appointment

Rachel Walsh

20 March 2009

US asset managers Legg Mason is to appoint Jeffrey Nattans as senior vice president, head of specialised managers, effective immediately. Mr Nattans will have management responsibility for the company’s wealth management division, including The Permal Group, Private Capital Management and Legg Mason Investment Council and Trust Company, as well as Royce & Associates.

Mr Nattans also will join the company’s executive committee. He will report to Chairman and chief executive Mark Fetting. He joined Legg Mason in 2006 as a managing director in the administrative management group, focusing on corporate strategy and mergers and acquisitions.

Since that time, he has played a key role in the Company’s strategic transactions, including the $1.25 billion convertible senior notes offering in January 2008, the divestiture of the Legg Mason private portfolio group in April 2008 and the $1.15 billion mandatory equity units offering in May 2008. He has also served as a director on the boards of several Legg Mason subsidiaries.

Prior to joining Legg Mason, Mr. Nattans worked for Goldman Sachs in New York as a vice president in the Investment Banking division. During that time, he advised clients on mergers and acquisitions and corporate finance transactions in the asset management and insurance industries.

Legg Mason is a global asset management firm, with $698 billion in assets under management as of 31 December 2008.