Dennis Kass was elected Tuesday as non-executive chairman of Legg Mason Inc., confirmed spokeswoman Mary Athridge.
He replaces W. Allen Reed, who will remain a director on the 14-member Legg Mason board and continue as chairman of its finance committee.
Mr. Kass joined the board in April; he will continue to serve on the board's nominating and corporate governance, finance and compensation committees.
Mr. Kass retired in 2012 as chairman of Jennison Associates and also had been CEO at the Prudential Financial subsidiary from 2003 to 2011. Prior to that, he was vice chairman of J.P. Morgan Fleming Asset Management, and was assistant secretary of Labor for Pension and Welfare Benefits in from 1985 to 1987.
Legg Mason has seven money management subsidiaries and had a combined $645 billion in assets under management as of June 30.