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News October 31, 2011 Issue

Legg Mason’s Bowden to Run OCIE Adviser Exam Program

Beginning tomorrow, the SECís adviser examination program has a leader again.

On October 21, the SEC announced that Andrew ("Drew") Bowden will join the SEC on November 1 as OCIEís new associate director leading the national investment adviser/investment company examination program.
Bowden was previously at Legg Mason
, where he held senior executive positions within the legal/compliance and business units. He worked earlier in his career at Legg Mason Capital Management in a variety of capacities, including general counsel, COO, and as the executive director for sales, client service and marketing. Bowden has also served on the Board of Governors and the Executive Committee of the Investment Adviser Association (IAA).

"Drew will bring a great combination of skills to the SEC," said IAA executive director David Tittsworth.  "Iíve had the great pleasure of working with Drew for more than a decade and I greatly admire and respect him.  He is a very knowledgeable lawyer who understands and appreciates the business aspects of the investment advisory profession."
Bowden succeeds Gene Gohlke
as the head of OCIEís adviser examination program. Gohlke retired at the end of April this year after more than three decades with the SEC, all of them in adviser examination program and a majority of those years as the programís head.

"Drew brings extensive experience in the operation and oversight of investment advisers and investment companies and will help us implement our risk-based approach to examination," said OCIE director Carlo di Florio. di Florio also noted Bowdenís experience in corporate governance initiatives, which will contribute to OCIEís continuing "dialog with senior management and boards on critical business, risk, and regulatory matters."