>

Ken Leech Takes Leave of Absence from Western Asset Management

Who is affected by Leech's leave?

• Ken Leech, co-chief investment officer of Franklin Resources Inc.'s Western Asset Management unit, is taking a leave of absence.
• Leech is one of two executives who oversee the firm's $380 billion fixed-income business.

Why is Leech taking a leave?

• Leech is taking a leave of absence from Western Asset Management to focus on a “personal matter,” according to a statement from the firm.
• The firm did not provide any further details about the nature of Leech's personal matter.

Who will replace Leech during his absence?

• Western Asset Management has named Michael Buchanan as its new chief investment officer.
• Buchanan was previously the head of fixed income for Europe, the Middle East and Africa at Franklin Templeton Investments.
• He has also held senior investment roles at BlackRock Inc. and Goldman Sachs Group Inc.

What does this mean for Western Asset Management?

• Leech's departure is a significant loss for Western Asset Management.
• He is a well-respected investment executive with over 30 years of experience.
• However, the firm has a deep bench of talent and Buchanan is a highly qualified replacement.

What does this mean for investors?

• Leech's departure is unlikely to have a significant impact on investors in Western Asset Management funds.
• The firm has a strong investment team and a proven track record of success.