-- Outwardly, all is upbeat at Western Asset Management, which has invited its staff and clients to celebrate the New Year by watching the Rose Parade from Wamco’s balconies in Pasadena, California, and cheer on the firm’s flower-bedecked entry, “Float Like a Butterfly.” The parade’s theme is “Best Day Ever!” The same can’t be said today for Wamco’s star bond …
At first blush, the U.S. case against star bond trader Ken Leech centers on a quirk in procedures: The former co-chief investment officer for Pasadena-based Western Asset Management Co. placed his daily bets, then let hours lapse before assigning them to client portfolios. Leech’s attorney disputed the government’s case as “unfounded,” saying his client acted properly at all times and …
-- Ken Leech, the former co-chief investment officer for Western Asset Management Co., was accused by US authorities on Monday of improperly allocating trades to favored clients in a dramatic turn for the once-star trader. As alleged, Leech abdicated that all-important duty for years.” Jonathan S. Sack, a lawyer for Leech, said the “unfounded” charges “ignore key facts, including the …
