Legg Mason Inc. named John Murphy and John Myers to its board to fill seats vacated by two members who will retire next month.
Murphy previously served as chairman of the mutual-fund industry’s trade group Investment Company Institute and as chairman and chief executive officer of OppenheimerFunds Inc. Myers retired as president and chief executive officer of GE Asset Management in 2006. They will replace Dennis Beresford and Nicholas St. George, who plan to retire in July, according to a statement today from the Baltimore-based money manager.
Murphy most recently advised the asset- and wealth-management practice at recruiting firm Korn/Ferry International, which Legg Mason used to conduct its search for a new chief. Joseph A. Sullivan, who took over on an interim basis starting in October, was named CEO in February. Legg Mason paid about $900,000 to Korn/Ferry for services related to the search, the firm said today in a regulatory filing.