ClearBridge adds co-CIO, changes funds' names

Scott Glasser Clearbridge
Scott Glasser has been named co-chief investment officer of ClearBridge Advisors

Updated with correction.

Scott Glasser has been named co-chief investment officer of ClearBridge Advisors, confirmed spokeswoman Maria Rosati.

The position is new.

Mr. Glasser will join current CIO Hersh Cohen in overseeing the investment strategies of the firm, an equity affiliate of Legg Mason (LM) that has about $58 billion in assets under management.

Mr. Glasser will continue as co-portfolio manager of the ClearBridge Appreciation Fund. The other co-portfolio manager is Michael Kagan.

In addition, U.S. mutual funds managed by ClearBridge will drop the Legg Mason name over the next several months and will be renamed as ClearBridge funds, Ms. Rosati confirmed. Western Asset Management Co., another Legg Mason business that manages equities, rebranded its U.S mutual funds as Western Asset on Aug. 1.