Kimberly M. Mustin was named managing director and head of institutional business for the Americas at Legg Mason, confirmed spokeswoman Mary Athridge. It is a new position.
She will report to David R. Odenath, senior executive vice president and head of the Americas. She will be responsible for expanding use of the firm’s investment products, including mutual funds and separately managed accounts into third-party institutions, according to a news release.
“As we look to the institutional segment as a key engine of growth for our mutual fund and SMA business, I know that Kim can make an immediate impact on our efforts and provide strong leadership,” Mr. Odenath said in the release.
Ms. Mustin was managing director of the financial institutions group at Deutsche Bank. Calls to Deutsche Bank spokesman John Gallagher for information on a replacement were not immediately returned.
Seperately, the firm expanded the duties of Matthew Schiffman, Legg Mason’s head of product and marketing; he will also be head of retail business for the Americas, Ms. Athridge said.
