Legg Mason Inc. announced the appointment of Thomas K. Hoops as Executive Vice President and Head of Business Development. Mr. Hoops joined Legg Mason on January 6th and will be a member of Legg Mason's Executive Committee, reporting to CEO and President Joseph A. Sullivan. He joins Legg Mason from Wells Fargo Corporation, where he was most recently Head of Affiliated Managers for Wells Fargo Asset Management.

In this new executive role, Mr. Hoops will have responsibility for working with Legg Mason's senior management and investment affiliates to determine the key investment product capabilities for the firm, and to develop retail products in conjunction with Legg Mason's global distribution team. He will have primary responsibility for the firm's strategy to deepen the network and drive potential acquisitions and lift-outs of investment firms in order to stay ahead of market trends. He will also oversee the product teams.