Christopher Berarducci
About Christopher Berarducci
Christopher Berarducci serves as Treasurer and Principal Financial Officer of BrandywineGLOBAL — Global Income Opportunities Fund Inc. (BWG), with birth year 1974 and service in the officer role since 2019 . He is Vice President, Fund Administration and Reporting at Franklin Templeton (since 2020), and previously held leadership roles at Legg Mason & Co. including Managing Director (2020), Director (2015–2020), and Vice President (2011–2015) . As BWG’s Principal Financial Officer, he signs SOX Section 302 and 906 certifications attesting to fair presentation and control effectiveness (June 23, 2025) . Officers of the Fund receive no compensation from BWG, though they may be reimbursed for reasonable out‑of‑pocket travel expenses to attend Board meetings .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Vice President, Fund Administration and Reporting | Since 2020 | Senior fund administration/reporting responsibilities across affiliated funds |
| Legg Mason & Co. | Managing Director | 2020 | Senior leadership within fund complex |
| Legg Mason & Co. | Director | 2015–2020 | Fund administration/finance leadership |
| Legg Mason & Co. | Vice President | 2011–2015 | Fund administration/finance |
External Roles
No external directorships or public company board roles are disclosed for Berarducci in BWG filings .
Fixed Compensation
| Component | Terms | Source |
|---|---|---|
| Fund-paid cash (salary, retainer) | None; officers receive no compensation from the Fund | |
| Reimbursements | Reasonable out‑of‑pocket travel expenses for Board meetings may be reimbursed |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable at Fund level | — | — | — | — | — |
BWG does not pay officers (including the Principal Financial Officer) incentive compensation at the Fund level; no RSUs/PSUs/options, performance metrics, or vesting schedules are disclosed for Fund officers .
Equity Ownership & Alignment
| Data Point | Detail | Source |
|---|---|---|
| Individual beneficial ownership (Christopher Berarducci) | Not individually disclosed in the proxy | |
| Management group ownership | Directors and officers as a group beneficially owned less than 1% of outstanding Common and Preferred shares as of Feb 7, 2025 | |
| Pledging/hedging | No pledging or hedging disclosures for officers found | |
| Ownership guidelines | Director dollar‑range disclosures provided; no officer ownership guideline disclosures |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Role | Treasurer and Principal Financial Officer | |
| Start date (PFO/Treasurer) | Effective September 27, 2019 | |
| Term length | Officers are chosen each year to hold office until successors are elected and qualified | |
| Employment agreement | Not disclosed in Fund filings | |
| Non‑compete / Non‑solicit | Not disclosed in Fund filings | |
| Severance / Change‑of‑control | Not disclosed in Fund filings | |
| Clawback | Not specified; Berarducci provides SOX 302/906 certifications (controls/financial reporting) |
Performance & Track Record
- Governance/controls: SOX Section 302/906 certifications for Form N‑CSR (period ended April 30, 2025) signed by Berarducci, attesting to fair presentation and control effectiveness .
- Fund operations: Officer roster and responsibilities reaffirmed (Treasurer and PFO; executive officers elected annually) .
Fund‑level TSR, NAV performance, or EBITDA/revenue metrics tied specifically to officer compensation are not disclosed in BWG filings .
Board Governance (Context)
- Berarducci is an officer, not a director; he does not serve on Board committees. The Board has Audit, Nominating, Compensation, and Pricing & Valuation committees, with directors compensated; officers are not compensated by the Fund .
Compensation Committee Analysis (Fund Context)
- Committee structure and membership are disclosed for directors; no officer pay program exists at the Fund level, thus no pay‑for‑performance constructs, peer groups, or incentive metric calibration for officers are present in BWG filings .
Say‑on‑Pay & Shareholder Feedback
- BWG proxies disclose director compensation and governance items; no say‑on‑pay votes or officer compensation votes are presented given the Fund’s structure and lack of officer pay .
Risk Indicators & Red Flags
- Section 16 compliance: Fund states filing requirements were met for fiscal year ended October 31, 2024 .
- Compensation red flags: None at Fund level (no officer cash/equity pay, hence no option repricing, golden parachute gross‑ups, or discretionary bonuses) .
- Related party transactions, legal proceedings, pledging/hedging: No disclosures implicating officers found in BWG proxy sections reviewed .
Investment Implications
- Compensation alignment: As BWG does not compensate officers, typical pay‑for‑performance levers (bonuses tied to TSR/EBITDA, equity vesting pressures) do not apply; this minimizes Fund‑level incentives that could drive opportunistic insider selling tied to vesting schedules .
- Retention risk: Berarducci’s retention is principally tied to Franklin Templeton employment terms rather than Fund‑specific compensation; lack of Fund‑level severance or CoC benefits suggests limited Fund‑level economic entanglements if transitions occur .
- Ownership alignment: Management’s group beneficial ownership is under 1%, implying limited direct “skin in the game” at the Fund level; monitor any Section 16 Form 4 filings for changes to insider holdings as potential signals .
- Governance/controls: SOX certifications underscore accountability for financial reporting and controls; continued clean Section 16 compliance and auditor oversight reduce accounting risk signals .