Hoops Gets an Arm and a Leg from Legg
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Wednesday, January 08, 2014

Hoops Gets an Arm and a Leg from Legg

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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