Legg Mason nabs UBS sales manager


By Megan Tran

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Legg Mason has appointed a former UBS wholesale sales manager as its national business development manager, with the aim of strengthening the fund manager’s partnerships in the retail advisory sector.

Legg Mason said new hire Adam Muston had over 10 years’ experience in the financial services industry and had also recently held the position of equity and derivative sales manager at Shaw Stockbroking.

Legg Mason managing director Australia Andy Sowerby said the firm had attracted substantial interest and growth across its fund range and the recruitment of Muston added to its resources to continue to support its clients effectively.

“The appointment of Adam is another important step for our business and he brings a deep understanding of the marketplace and will be a strong addition to our team,” Sowerby said in a statement.

“The skills and knowledge he has gained from working in the stockbroking profession will also be an asset to the company.

“Adam joins the firm at a time when Legg Mason Australia has significantly broadened its suite of products and now offers accessibility, flexibility and choice of investment vehicles across equity, fixed income, multi-asset and alternative asset classes.

“Investors can now access our best, award-winning strategies through SMAs (separately managed accounts), managed investment schemes, mandates and offshore fund structures.”

Muston will work alongside Legg Mason sales director Matt Stovold in the recently opened Sydney office.

National Australia Bank (NAB) also announced a significant appointment yesterday, confirming former Westpac New Zealand chief executive Ann Sherry would join its board as a non-executive director.

Sherry is the incumbent executive chairman of cruise ship operator Carnival Australia and previously held an executive role at Bank of Melbourne.

NAB chairman Ken Henry said Sherry, who would commence her directorship on 8 November, would bring extensive business skills to her position along with a deep understanding of how to drive the right culture, community engagement and customer focus at the bank.

Sherry said she looked forward to working with the board on the many opportunities and challenges that lay ahead in her new position.

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