Permal Boosts Institutional Presence With New Hires

Jan 14 2008 | 1:02am ET

New York-based Permal Group has its Americas institutional team with a pair of senior hires.

Joshua Levine, a former director of BlackRock’s Latin American institutional business, has joined as head of Permal’s Americas institutional sales team, while Tim Schuler, the former director of Credit Suisse’s Asian and Australian alternatives business, becomes Permal’s investment strategist, with responsibility for all U.S. institutional clients and other large direct account relationships.

“These two senior appointments add to our existing North American institutional sales team and shows the intent to grow our Americas institutional business,” said Isaac Souede, chairman and CEO. ”We strongly believe that this is a natural market for Permal, given its American parent company, Legg Mason, and New York investment headquarters.”

Founded in 1973, Permal currently has around $37 billion under management. It became part of Legg Mason in 2005.

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