Jeanne M. Kelly
About Jeanne M. Kelly
Jeanne M. Kelly is Senior Vice President of Western Asset Global High Income Fund Inc. (EHI) with a birth year of 1951 and has served in this officer role since 2007 . Her responsibilities span fund governance within Franklin Templeton: U.S. Fund Board Team Manager since 2020; Senior Vice President of Franklin Templeton Fund Adviser, LLC (FTFA) since 2006; and President and Chief Executive Officer of LM Asset Services, LLC (LMAS) and Legg Mason Fund Asset Management, Inc. (LMFAM) since 2015 . The fund’s proxy states officers receive no compensation from the Fund and does not present pay-versus-performance metrics for officers, limiting disclosure on TSR, revenue, or EBITDA growth alignment to compensation .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | U.S. Fund Board Team Manager | Since 2020 | Oversight of fund board administration within Franklin Templeton |
| Western Asset Global High Income Fund Inc. (EHI) | Senior Vice President | Since 2007 | Senior officer for fund governance and operations |
| Franklin Templeton Fund Adviser, LLC (FTFA) | Senior Vice President | Since 2006 | Senior leadership at the fund adviser/administrator |
| LM Asset Services, LLC (LMAS) | President & CEO | Since 2015 | Executive leadership of affiliate service entity |
| Legg Mason Fund Asset Management, Inc. (LMFAM) | President & CEO | Since 2015 | Executive leadership of affiliate adviser entity |
| Legg Mason & Co., LLC | Managing Director | 2005–2020 | Senior management at legacy Legg Mason affiliate |
| LMFAM | Senior Vice President | 2013–2015 | Senior management at affiliate adviser |
External Roles
None disclosed in the Fund’s proxy statements .
Fixed Compensation
- Officers of the Fund receive no compensation from EHI, though reasonable travel expenses for Board meetings may be reimbursed .
Performance Compensation
- Not disclosed. Proxies do not present officer bonus targets, RSU/PSU grants, option awards, or pay-versus-performance metrics for officers; officers are not compensated by the Fund .
Equity Ownership & Alignment
- Group beneficial ownership: Directors, nominees, and officers as a group beneficially owned less than 1% of outstanding shares as of the 2025 Record Date (August 29, 2025) .
- Individual officer ownership, pledging, hedging, and ownership guideline compliance are not disclosed in the Fund’s proxies; director dollar ranges are disclosed, but officer-level detail is not provided .
Employment Terms
- Appointment/term: Executive officers are chosen annually at a regular Board meeting, serving until successors are elected and qualified .
- Compensation: Officers receive no compensation from the Fund (expense reimbursement for Board meeting travel permissible) .
- Severance/change-in-control, non-compete/non-solicit, and clawbacks: Not disclosed in Fund proxies; any such terms would reside in employment arrangements with Franklin Templeton affiliates, not the Fund .
- Section 16(a) compliance: Based on Fund review, all filing requirements for the fiscal years noted were met .
Investment Implications
- Limited direct compensation alignment signals: As Fund officers are not compensated by EHI, traditional pay-for-performance linkages (bonus metrics, equity grants, vesting schedules) tied specifically to EHI are not available, reducing utility of insider pay-based trading signals for this issuer .
- Retention risk appears low given long tenure and senior leadership across Franklin Templeton affiliates (SVP since 2006; EHI SVP since 2007; LMAS/LMFAM CEO since 2015), suggesting institutional continuity in fund governance .
- Insider selling pressure and pledging risk are not evidenced due to lack of officer-level ownership disclosures; group ownership is de minimis (<1%), limiting potential signaling from insider stake changes at the Fund level .
- Governance clarity: Kelly is an officer, not a director; she does not hold committee roles on the Fund’s Board, and the Compensation Committee covers independent director compensation only, further pointing to limited disclosure of officer incentives within EHI .