Marc De Oliveira
About Marc De Oliveira
Marc A. De Oliveira is Secretary and Chief Legal Officer of BrandywineGLOBAL – Global Income Opportunities Fund Inc. (NYSE: BWG), serving since 2023; birth year 1971 . He has been Associate General Counsel at Franklin Templeton since 2020, and previously served as Managing Director (2016–2020) and Associate General Counsel (2005–2020) at Legg Mason & Co.; he has also held fund officer roles (Secretary/Chief Legal Officer; Assistant Secretary) across the Legg Mason/Franklin Templeton fund complex since 2006 . Fund proxy materials for BWG indicate officers receive no compensation from the Fund and do not provide TSR or operating performance metrics tied to officer evaluation; management and nominees as a group owned less than 1% of BWG shares as of the prior proxy year .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Associate General Counsel | Since 2020 | Legal oversight and governance across Franklin Templeton fund complex; Secretary/Chief Legal Officer of certain funds since 2020 |
| Legg Mason & Co. | Managing Director; Associate General Counsel | 2016–2020; 2005–2020 | Senior legal leadership supporting fund operations and compliance |
| Legg Mason/Franklin Templeton funds | Assistant Secretary; Secretary/Chief Legal Officer | Assistant Secretary since 2006; Secretary/CLO since 2020 | Fund officer responsibilities across multiple registered funds |
External Roles
No external public company directorships or board committee roles are disclosed for De Oliveira in BWG proxy filings .
Fixed Compensation
| Component | FY 2024 | FY 2025 | Notes |
|---|---|---|---|
| Base Salary | Not disclosed by BWG; officers receive no compensation from the Fund | Not disclosed by BWG; officers receive no compensation from the Fund | Officers may be reimbursed for reasonable out-of-pocket travel expenses |
| Target Bonus % | Not disclosed | Not disclosed | Compensation for officers is not paid by the Fund |
| Actual Bonus Paid | Not disclosed | Not disclosed | — |
| Cash Retention/Sign-on Bonus | Not disclosed | Not disclosed | — |
| Pension/SERP | Not disclosed | Not disclosed | — |
| Perquisites | Not disclosed; travel reimbursement only referenced | Not disclosed; travel reimbursement only referenced | — |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Not applicable at Fund level | — | — | — | Officers receive no Fund-paid compensation | — |
Equity Ownership & Alignment
| Item | Value | As-of Date | Source |
|---|---|---|---|
| Common shares beneficially owned | 0 (Direct) | 09/13/2023 | Form 3 shows “No securities are beneficially owned.” |
| Derivative securities (options/RSUs) | None disclosed; Form 3 Table II blank | 09/13/2023 | Form 3 |
| Ownership as % of outstanding | 0.00% (derived from 0 shares) | 09/13/2023 | Management/nominees as a group owned <1% in prior proxy |
| Shares pledged as collateral | None disclosed | Proxy dates | BWG proxy filings |
| Stock ownership guidelines | Not disclosed for officers | Proxy dates | BWG proxy filings |
| Section 16 compliance | All filing requirements met for FY ended Oct 31, 2024 | FY 2024 | DEF 14A |
Additional context: De Oliveira regularly signs Section 16 filings as attorney-in-fact for BWG insiders, reflecting his legal/administrative authority (e.g., Form 3 signatures for other reporting persons, and Limited Power of Attorney listing him as authorized filer) .
Employment Terms
| Term | Disclosure |
|---|---|
| Appointment/Term | Executive officers are chosen annually by the Board and hold office until successors are elected and qualified . |
| Employment start date in current role | Since 2023 (Secretary and Chief Legal Officer) . |
| Contract length/expiration | Not disclosed in BWG proxy . |
| Severance/Change-of-Control | Not disclosed in BWG proxy; no Fund-level officer compensation . |
| Non-compete/Non-solicit/Garden leave | Not disclosed in BWG proxy . |
| Post-termination consulting | Not disclosed in BWG proxy . |
Performance & Track Record
- Administrative leadership: Signed BWG 2025 Notice of Annual Meeting as Secretary; responsible for proxy governance and shareholder communications . Also signs proxy materials and communications as Secretary .
- Legal authority: Named in Limited Power of Attorney for Section 13/16 filings across Franklin-affiliated reporting entities, evidencing oversight of compliance filings .
- Beneficial ownership posture: Filed his own Form 3 indicating no BWG securities owned, reinforcing minimal insider alignment via equity .
- Section 16 reporting: BWG proxies state all filing requirements met for FY 2024, signaling strong compliance processes .
Compensation Structure Analysis
- Fund-level officer pay: BWG officers, including De Oliveira, receive no compensation from the Fund; therefore, there is no pay-for-performance linkage disclosed at BWG, and no RSU/PSU/option grants at the Fund level .
- Mix and guarantees: No cash/equity mix is disclosed for BWG officers given the Fund’s policy; any compensation would be at Franklin Templeton corporate level and is not reported in BWG materials .
- Clawbacks/gross-ups/repricing: Not disclosed in BWG proxy filings .
Related Party Transactions and Governance Red Flags
- Related-party transactions involving De Oliveira: None disclosed in BWG proxy filings .
- Hedging/pledging: No pledging or hedging by De Oliveira is disclosed; Form 3 indicates no holdings .
- Compliance indicators: BWG reported Section 16 compliance during FY 2024 .
Say-on-Pay & Shareholder Feedback
- Say-on-Pay: Not applicable; BWG does not disclose officer compensation at the Fund level .
- Shareholder proposals/communications: The Secretary oversees shareholder proposal processes and Board communications per proxy instructions .
Expertise & Qualifications
- Legal and fund governance expertise: Multi-decade tenure in senior legal roles at Legg Mason & Franklin Templeton; fund officer roles across complex .
- Education: Not disclosed in BWG proxy filings .
Work History & Career Trajectory
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Franklin Templeton | Associate General Counsel | Since 2020 | Secretary/Chief Legal Officer of certain funds since 2020 |
| Legg Mason & Co. | Managing Director; Associate General Counsel | 2016–2020; 2005–2020 | Senior legal leadership |
| Legg Mason/Franklin funds | Assistant Secretary; Secretary/CLO | Since 2006; since 2020 | Fund officer responsibilities across multiple registered funds |
Compensation Committee Analysis
- Committee roles: Not applicable to De Oliveira (officer, not director); BWG’s Board committees discussed in proxies do not attribute compensation oversight to Fund-level officer pay given officers are unpaid by the Fund .
Investment Implications
- Alignment: De Oliveira’s Form 3 indicates 0 BWG shares and no derivatives, implying minimal direct equity alignment with BWG shareholders at the Fund level .
- Incentive-driven trading signals: With no Fund-level equity awards or vesting schedules, there is no insider selling pressure or vesting-related trading signal attributable to his Fund role .
- Retention risk: Officers are appointed annually and serve until successors are elected; compensation and employment terms for De Oliveira are set at Franklin Templeton and are not disclosed in BWG filings, limiting visibility into retention hooks (severance, change-of-control) .
- Governance/compliance: Frequent attorney-in-fact roles and clean Section 16 compliance suggest robust governance processes; however, lack of Fund-level pay-for-performance disclosure reduces transparency into incentive alignment with BWG outcomes .