Western Asset Management Announces Promotion of Chia-Liang Lian to Co-Head of Emerging Markets Debt

Western Asset Management Company, a wholly-owned subsidiary of Legg Mason, Inc., today announced the promotion of Chia-Liang (CL) Lian to Co-Head of the Emerging Markets Debt Team, reporting to S. Kenneth Leech, Co-Chief Investment Officer of Western Asset. The appointment is effective in April of 2014.

Building upon Mr. Lian’s successful effort in expanding the Asia ex-Japan investment team, the appointment will create a two-year succession plan for the emerging markets debt investment effort. Mr. Lian will serve as Co-Head alongside Keith Gardner, who intends to retire in April of 2016, after nearly 22 years with Western Asset.

The promotion of Mr. Lian reflects the importance that Asian markets play in global emerging markets debt indices, which Western Asset expects to continue to grow as global markets evolve. He will balance his time between the Pasadena headquarters of Western Asset and its Singapore office until 2015, at which point, he will permanently move to the headquarters. Western Asset also promoted Desmond Soon, one of the Singapore investment team members, to Co-Head of Investment Management, Asia, also effective April 2014.

S. Kenneth Leech, Co-Chief Investment Officer at Western Asset, said “Our emerging market team model promotes close teamwork among the on the ground investment teams around the world, backed by the resources of a global firm. We believe that appointing CL to lead our future efforts will only serve to better integrate our efforts, particularly with the growing importance of the Asian region. And, we’re very pleased to have a long transition with Keith Gardner, a longtime member of our team, over the next two years.”

Mr. Lian has 21 years of investment experience, having worked in the emerging markets business for his entire career. He joined Western Asset in 2011 and under his leadership, the Firm received Benchmark Magazine’s Best-In-Class House Award in Asia Fixed Income in 2012. Prior to joining Western Asset, he spent approximately six years with Pacific Investment Management Company (PIMCO), where he served as Head of Emerging Asia Portfolio Management. During his time at PIMCO, he pioneered the establishment of PIMCO’s trading desk in Singapore, led the launch of Asian bond funds and held a senior role in trading, portfolio management and research. Previously, he spent eight years at JP Morgan and Merrill Lynch as a sovereign debt strategist. From 1993 to 1997, he was a Senior Economist at the Monetary Authority of Singapore. He is a Chartered Financial Analyst and has a Bachelor of Social Sciences from the National University of Singapore.

Mr. Soon has 25 years of experience in the financial services industry. He joined Western Asset in 2012 after approximately 16 years with various asset management firms. He joined Western from ST Asset Management, where as a portfolio manager, he implemented an investment strategy for an Asian credit portfolio to buy into undervalued Asia Pacific bank capital and China real estate bonds. He was previously at AMP Capital Partners and DBS Asset Management. Prior to that, he was at Pacific Asset Management for approximately 12 years. He began his career as a sell side analyst. He is a Chartered Financial Analyst and has a Bachelor of Social Sciences and a Master of Science in Financial Engineering from the National University of Singapore.
Western Asset is one of the world’s leading fixed-income managers with $451.6 in assets under management as of December 31, 2013. From offices in Pasadena, New York, Sao Paulo, London, Dubai, Singapore, Hong Kong, Tokyoand Melbourne, the company provides investment services for a wide variety of global clients, across an equally wide variety of mandates.