Legg Mason Australia and New Zealand boss Andy Sowerby will be taking a new expanded role of head of Asia Pacific (ex-Japan), as the firm seeks to bolster its presence in the region.
Mr Sowerby will still be country head and managing director for Australia and New Zealand, continuing to report to Terry Johnson, head of global distribution and a member of the company’s executive management group.
Lennie Lim, regional head for Asia ex-Japan, will meanwhile retire on 31 March next year, after 12 years with the asset manager.
Mr Sowerby has held his current role since 2016.
Mr Johnson commented: “Andy has more than 25 years of experience in senior distribution roles, including board level experience at both Investec Asset Management and Martin Currie, an investment affiliate of Legg Mason.
“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.”
On Mr Lim’s retirement, he added: “Lennie has been instrumental in establishing many of our business relationships in Asia and we would like to thank him for his contribution.”
Mr Sowerby’s appointment is effective 1 October.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
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