Jeanne Kelly
About Jeanne Kelly
Jeanne M. Kelly is Senior Vice President of BrandywineGLOBAL – Global Income Opportunities Fund Inc. (BWG) and a long-standing fund complex officer affiliated with Franklin Templeton/Legg Mason; birth year 1951, with service noted “since 2011” in recent proxies and “since 2007” in earlier filings, reflecting long-tenured fund governance experience. Her current business address in the latest proxy is 1 Madison Avenue, 17th Floor, New York, NY 10010; prior filings list 280 Park Avenue, 8th Floor, New York, NY 10017, indicating an address update. BWG’s proxies do not disclose TSR, revenue growth, or EBITDA growth metrics for officers, nor individual pay-for-performance linkages; officers receive no fund-paid compensation, with only travel expense reimbursement permitted. These facts indicate her role is administrative/governance rather than performance-incentive driven at the fund level .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Legg Mason & Co. (affiliated with Franklin Templeton) | Managing Director | 2005–2020 | Senior leadership in fund administration/governance across the Legg Mason fund complex . |
| Legg Mason Fund Asset Management, Inc. (LMFAM) | Senior Vice President | 2013–2015 | Executive oversight at registered adviser affiliate supporting fund operations . |
| LM Asset Services, LLC (LMAS) and LMFAM | President & CEO | Since 2015 | Executive leadership of service/adviser entities supporting the fund complex . |
| Franklin Templeton | U.S. Fund Board Team Manager | Since 2020 | Oversight of U.S. fund board governance and board process management . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton/FTFA and prior LMPFA | Senior Vice President | Since 2006 | Senior officer across funds/adviser entities; continuity supports governance consistency . |
| “Certain funds associated with Legg Mason & Co. or its affiliates” | Senior Vice President | Since 2011 (earlier proxies: since 2007) | Broad officer coverage across related funds; cross-complex coordination . |
Fixed Compensation
- Officers of BWG receive no compensation from the Fund; only reasonable out-of-pocket travel expenses for attending Board meetings may be reimbursed .
- Compensation (salary/bonus/equity) at adviser-level entities (Franklin Templeton/affiliates) is not disclosed in BWG’s proxy statements .
| Item | FY Reference | Amount/Status |
|---|---|---|
| Fund-paid cash compensation (salary/bonus) | Latest proxy | $0; officers receive no compensation from the Fund . |
| Fund reimbursement policy | Latest proxy | Reasonable out-of-pocket travel expenses only . |
Performance Compensation
Not disclosed for BWG officers; proxies state officers are unpaid by the Fund, and do not include revenue/EBITDA/TSR-based incentive frameworks or PSU/RSU grants for officers at the Fund level .
Equity Ownership & Alignment
- BWG proxies disclose management ownership at the group level; individual officer holdings (including for Jeanne Kelly) are not itemized. As of each referenced date, nominees, Directors, and officers as a group beneficially owned less than 1% of outstanding Common and Preferred shares .
- Recent and historical SEC Form 3 filings identify several BWG reporting persons with “No securities are beneficially owned,” but none of the available Form 3 documents list Jeanne Kelly as a reporting owner, and no Form 4 insider transactions for her are available in the filings reviewed .
| Metric | Dec 31, 2020 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|
| Group beneficial ownership of BWG (Directors + officers) | <1% | <1% | <1% |
Key alignment indicators
- Pledging/hedging: Not disclosed in proxies for officers .
- Stock ownership guidelines/compliance: Not disclosed for officers; BWG focuses on director compensation and does not present officer ownership guidelines .
- Vested/unvested shares, options, RSUs/PSUs for officers: Not disclosed at the Fund level .
Employment Terms
- Officers are elected each year at a regular Board meeting and serve until successors are duly elected and qualified; this reflects annual appointment without a fixed contract term in the Fund’s disclosures .
- No employment contracts, severance arrangements, change-of-control terms, non-compete/non-solicit, garden leave, or consulting arrangements are disclosed for BWG officers in the proxies; officer compensation is not paid by the Fund .
Investment Implications
- Pay-for-performance alignment: At the Fund level, officers receive no compensation, and there is no disclosed performance-based pay structure for officers (no RSU/PSU/options), reducing typical executive incentive signaling available to equity investors; focus remains on portfolio performance managed by the adviser/subadviser rather than fund officers .
- Insider selling pressure: With less than 1% aggregate beneficial ownership for nominees/Directors/officers and no officer-level grants or Form 4 activity for Jeanne Kelly, selling pressure indicators from insider equity awards are minimal at the Fund level .
- Retention risk: Tenure spanning at least 2011 (and earlier proxies noting since 2007) with current Franklin Templeton governance roles suggests continuity; absence of Fund-paid compensation and lack of disclosed severance/change-of-control benefits imply retention is driven by adviser-level employment rather than fund economics .
- Governance/contract risk: Annual officer elections and no disclosed pledging/hedging or related-party transactions for officers in proxies mitigate specific governance red flags at the Fund officer level; however, the lack of individual ownership transparency limits alignment analysis granularity .