Sometimes you'll pay anything for just a little bit of rain.
Earlier this week, Legg Mason
hired Thomas Hoops to serve as the firm's new executive vice president and head of business development
. In short, to lead their rain dancing efforts.
You'd be interested to know that part of the compensation offered to Hoops, previously head of affiliated managers at Wells Fargo Asset Management
, includes roughly $3.5 million in stock, or a tad more than 80,000 Legg Mason shares, according to a Form 4 filed by Legg with the SEC
. The remainder of the details of his compensation have not been disclosed.
Let's see how much moisture Hoops ultimately brings to the company.
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