US asset manager Legg Mason has appointed Andy Sowerby as head of Asia Pacific ex-Japan, succeeding Lennie Lim who is retiring next year.
The appointment was effective October 1.
Mr. Lim, who will retire on March 31, 2020, will transition his duties to Mr. Sowerby over the next few months, Legg Mason says in a statement on October 8.
Mr. Sowerby will keep his existing role as country head and managing director for Australia and New Zealand, and continues to report to Terry Johnson, the head of global distribution and a member of Legg Mason’s executive management group.
The expansion of Mr. Sowerby’s role is aimed at further strengthening the company’s presence across the region, according to the company.
“[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,” Mr. Johnson says in the statement.
Mr. Sowerby joined Legg Mason in 2016. Prior to that, he was executive director for sales, marketing and client service at Martin Currie, an investment affiliate of Legg Mason, and managing director of Investec Asset Management before that.
Legg Mason had US$776.8 billion of assets under management as at August 31, 2019.