MONEY MANAGEMENT

Legg Mason taps Martin Currie sales veteran as head of Australia

Andy Sowerby joined Legg Mason (LM) in Melbourne on Monday as head of Legg Mason Australia.

He replaces Annalisa Clark, who retired in July, said a spokesman for the firm.

Mr. Sowerby comes to Legg Mason from his post as executive director for sales, marketing and client service with Martin Currie Investment Management, the active international equity firm that Legg Mason acquired two years ago.

Kimon Kouryialas, Martin Currie's Melbourne-based head of pan Asia, said a search is underway to fill Mr. Sowerby's former role in Edinburgh.

Legg Mason's spokesman said Mr. Sowerby will be responsible for distribution, marketing and client service for all Legg Mason-branded funds, as well as the institutional business of some of the firm's money management affiliates.

A Legg Mason news release Wednesday said A$35 billion ($27 billion) of Legg Mason’s A$968 billion in assets under management globally are managed by affiliates in pooled funds or separate accounts on behalf of Australian clients.