Legg Mason's head of wealth management distribution O'Donnell leaves following Franklin Templeton buyout
Worked at Legg Mason for 13 years
Joe O'Donnell, head of wealth management distribution and investment trusts at Legg Mason, has left the firm after 13 years, following Franklin Templeton's acquisition of the company in July.
O'Donnell, who was promoted into his newly created role from regional sales director in 2017, joined Legg Mason from Barclays Wealth in 2007, where he was a private banker.
He began his career in investment management in 1998, when he worked as a portfolio manager for Rensburg Sheppards - now Investec Wealth.
On his LinkedIn this morning (25 August), O'Donnell said he is "incredibly proud of what we have achieved at Legg [Mason]", including the launch of nine new products with five different affiliates, as well as "developing and growing the business with our clients, many of whom have become great friends".
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"The industry has changed a lot since I joined the company in 2007. We have navigated our way through the GFC, the eurozone crisis and Brexit and we continue to adapt to the current pandemic," he said.
"We have also had to react to significant regulatory change in the form of RDR, MIFID II, anti-bribery and pension freedom legislation. In the main, we have emerged more professional and client focused than ever before.
"While the way we do the job may have changed, it remains at its core a people business."
He added there will "no doubt" be further changes over the coming years, but said "with challenge comes opportunity".
"I am excited to see what the next few years present us with and for this new phase in my career," he continued. "It has been a pleasure to work with you during my tenure at Legg Mason and I look forward to working with you all in my next role."
Franklin Templeton completed its acquisition of Legg Mason on 31 July this year, creating a $1.4trn asset management giant.
Its parent company Franklin Resources said the deal would deepen Franklin Templeton's presence in key geographies, and create a platform that is "well balanced" between institutional and retail clients.
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