Effective August 21 2024

Western Asset Management CIO Ken Leech Takes Leave of Absence

Effective August 21, 2024

Michael Buchanan Named Acting CIO

PASADENA, Calif.--(BUSINESS WIRE)--August 21, 2024--Western Asset Management^® announced today that Ken Leech, co-chief investment officer, is taking an immediate leave of absence to focus on a Securities and Exchange Commission (SEC) investigation.

Michael Buchanan, co-chief investment officer, has been named acting CIO.

Leech's leave of absence is effective immediately.

Western Asset Management is a leading global fixed income manager with approximately $475 billion in assets under management as of June 30, 2024.

The firm offers a wide range of fixed income products and services to institutional and retail investors worldwide.

Western Asset Management is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment management organization with over $1.5 trillion in assets under management as of June 30, 2024.

For more information, please visit www.westernasset.com.

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About Western Asset Management

Western Asset Management is one of the world's leading fixed income managers, with over $475 billion in assets under management as of June 30, 2024.

The firm offers a wide range of fixed income products and services to institutional and retail investors worldwide.

Western Asset Management is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment management organization with over $1.5 trillion in assets under management as of June 30, 2024.

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Contact:

Western Asset Management

Media Relations

(626) 683-8547

media@westernasset.com