Legg Mason has promoted Andy Sowerby from managing director of Legg Mason Australia & New Zealand to head of Asia Pacific (ex-Japan) in a newly-created role reflecting the firm’s growth.
He took up the role on 1 October and would continue with his existing country head role while Lennie Lim, regional head for Asia ex-Japan would retire on 31 March, 2020 after 12 years.
Sowerby would report to Terry Johnson, head of global distribution at Legg Mason.
Johnson said: “Andy has more than 25 years of experience in senior distribution roles, including board level experience at both Investec Asset Management and Martin Currie, an investment affiliate of Legg Mason. His management experience, coupled with his strong track record over the past three years leading our Australasian business, has made him the ideal candidate to take on additional responsibilities in this region.
“Lennie has been instrumental in establishing many of our business relationships in Asia and we would like to thank him for his contribution.”