Legg Mason, a US-based asset management firm, has appointed Terrence Murphy, currently COO of ClearBridge Advisors, a Legg Mason affiliate, as interim CFO. He replaces CJ Daley who has resigned from his position for a senior position with a privately-held asset manager.

Mr Murphy, earlier served as CFO of Citigroup Asset Management prior to Legg Mason’s acquisition of the division business in 2005.

Mr Murphy has 21 years of finance experience. He joined predecessor firm Citigroup Asset Management in 2000 as director of planning and analysis and became CFO in 2005. From 1997 through 2000, he was with Citigroup’s corporate and investment bank where he was the business controller for various products, including project finance, asset backed lending and the treasury desk.

His previous positions include business controller for loan syndication and securitization at NatWest Bank’s commercial lending division and a financial analyst at Capital Cities.

Mark Fetting, chairman and CEO of Legg Mason, said: “We want to thank CJ for his 22 years of outstanding service to Legg Mason. I particularly appreciate his service and dedication during my tenure as CEO. We wish him and his family well.

“At the same time, I am delighted that Terrence has agreed to serve as interim CFO. Terrence possesses deep knowledge about Legg Mason and the asset management business. He is a highly experienced finance executive with strong operational expertise. Given the strength and depth of our finance team and his skills, we expect a seamless transition.”