Terrence Murphy, managing director and COO of ClearBridge Advisors, was named president of the firm, confirmed Mary Athridge, a spokeswoman for parent company Legg Mason.
Mr. Murphy assumes that title from Peter Sundman, who remains CEO of the firm. He will retain his prior titles and responsibilities.
In an internal announcement obtained by Pensions & Investments, Mr. Sundman said Mr. Murphy’s appointment underscores his “significant contributions in building ClearBridge’s business since 2006 as well as the leadership role he will have in the future.”
