Business Context and Reporting Period
This Form 8-K is a current report filed by Western Asset Global High Income Fund Inc. on July 20, 2015. The filing primarily addresses significant changes in the Fund's leadership and governance structure effective in late July and early August 2015.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
The filing discloses the following material changes to the Fund's leadership:
- Resignation: Kenneth D. Fuller resigned as director/trustee, Chairman, Chief Executive Officer, and President of the Fund, effective July 31, 2015.
- Appointment: Jane Trust was appointed as director/trustee, Chairman, Chief Executive Officer, and President of the Fund, effective August 1, 2015.
Management Commentary and Background
Ms. Trust is a Managing Director of Legg Mason & Co., LLC and has been with the Legg Mason family for nearly 27 years. Her background includes:
- Senior investment roles within Legg Mason Capital Management (LMCM) and Legg Mason Investment Counsel (LMIC).
- Experience as an Institutional Portfolio Manager for LMCM managing accounts for sovereign wealth funds, pension plans, and mutual funds.
- Role as Head of Investments at LMIC, supervising equity and fixed income portfolio managers and the trading desk.
- Current position as Senior Vice President of Legg Mason Partners Fund Advisors, LLC (LMPFA), the Fund's investment adviser.
- Education: B.A. in Engineering Sciences from Dartmouth College and M.A.S. in Finance from The Johns Hopkins University; CFA charterholder.
Investor Verification Checklist
- Verify the effective dates of the leadership transition (July 31, 2015, for resignation; August 1, 2015, for appointment).
- Review the attached press release (Exhibit 99.1) for additional details on the transition plan.
- Confirm Ms. Trust's continued role as Senior Vice President of the investment adviser, LMPFA.
- Note that this filing does not contain financial results; refer to the most recent 10-K or 10-Q for financial metrics.