BALTIMORE, Jan. 25, 2016 /PRNewswire/ -- Legg Mason Inc. (NYSE: LM) today announced the appointment of Roger Paradiso as Head of Alternative Distribution Strategies, effective immediately. Paradiso reports to Terence Johnson, Head of Global Distribution, and is based out of Stamford.
As the Head of Alternative Distribution Strategies, Paradiso will work with the Legg Mason's Strategic Ventures team, which is focused on new business development, to lead and create alternative retail distribution strategies for Legg Mason and its affiliates. In addition to developing the strategy, he will implement technology enabled advice solutions to support existing intermediary channels and potential new areas of growth and access.
Paradiso worked for Legg Mason and predecessor firms for 20 years. In 1997, Paradiso conceived, developed and built out the Company's unified managed account platform, an industry first. Two years later, he built the Private Portfolio Group at Citigroup, which was later sold back to Smith Barney in 2008. That platform remains the industry's leading overlay manager.
"We are pleased that Roger has rejoined the team to support our efforts in distribution innovation," said Terence Johnson, Head of Global Distribution at Legg Mason. "His strong understanding of Legg Mason and our affiliates and his industry know-how make him the ideal candidate for this role. He has made a very successful career out of building businesses and developing innovative advisory solutions, which we look forward to leveraging in creating and growing new business opportunities."
Paradiso returns to Legg Mason from Morgan Stanley where he was most recently Managing Director of Investment Solutions and Portfolio Development for the advisor business in New York. His team was responsible for portfolio construction, account management and trading. Paradiso's business group managed $130 billion in assets of which $30 billion was discretionary in over 225 thousand accounts.
In 2014, Roger was bestowed the Money Management Institute's highest honors of the Advisory Solutions Pioneer and All Star Achiever Award.
About Legg Mason
Legg Mason is a global asset management firm with $671.5 billion in assets under management as of December 31, 2015. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
SOURCE Legg Mason Inc.