Fred Jensen
About Fred Jensen
Fred Jensen is Chief Compliance Officer (CCO) of Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE: GDO), serving since 2020; his birth year is 1963. His current principal occupation is Director–Global Compliance at Franklin Templeton (since 2020), following senior compliance leadership roles at Legg Mason from 2006–2020. GDO’s proxies state officers receive no compensation from the Fund (other than reimbursement for reasonable travel expenses), and the Board meets with the Fund’s CCO as part of risk oversight of policies, procedures, and controls . The SEC Form 3 for Mr. Jensen confirms he filed as CCO of Western Asset Global Corporate Defined Opportunity Fund Inc. (GDO) on 04/24/2020 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Legg Mason & Co. | Managing Director | 2006–2020 | Senior compliance leadership at Legg Mason; oversight via Office of the Chief Compliance Officer |
| Legg Mason Office of the Chief Compliance Officer | Director of Compliance | 2006–2020 | Compliance policy and controls leadership |
| Legg Mason Global Asset Allocation | Chief Compliance Officer | Prior to 2014 | CCO responsibilities across asset allocation products |
| Legg Mason Private Portfolio Group | Chief Compliance Officer | Prior to 2013 | CCO responsibilities across private portfolio services |
| The Reserve Funds | Chief Compliance Officer | 2004 | CCO role for investment adviser, funds, and broker-dealer |
| Ambac Financial Group | Chief Compliance Officer | 2000–2003 | CCO role for investment adviser, funds, and broker-dealer |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Franklin Templeton | Director–Global Compliance | Since 2020 | Enterprise compliance leadership; current principal occupation |
Fixed Compensation
| Metric | 2021 Proxy | 2022 Proxy | 2023 Proxy | 2024 Proxy | 2025 Proxy |
|---|---|---|---|---|---|
| Officer cash compensation from Fund | None | None | None | None | None |
| Travel expense reimbursement | Allowed for reasonable out-of-pocket travel to Board meetings | Allowed | Allowed | Allowed | Allowed |
Officers are appointed annually by the Board and hold office until successors are duly elected and qualified; they are not paid by the Fund .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Equity/option awards from the Fund (RSUs/PSUs/Options) | N/A | N/A | N/A | N/A | N/A |
No equity or option awards for Fund officers are disclosed; proxies state officers “receive no compensation from the Fund” .
Equity Ownership & Alignment
| Metric | 2020 | 2024 |
|---|---|---|
| Filing reference | SEC Form 3 filed 04/24/2020 | Schedule TO-I beneficial ownership table (published 2024-09-03) |
| Shares beneficially owned | 0 (No securities beneficially owned) | None (0) |
| Ownership % of shares outstanding | 0% | 0% |
| Options/RSUs (exercisable/unexercisable) | None | None |
| Insider transactions (recent window) | Not disclosed in Form 3 | No transactions in past 60 days, except dividend reinvestments |
Based on the filings reviewed, no pledging or hedging by Mr. Jensen is disclosed; the Schedule TO-I indicates no contracts or arrangements relating to the Fund’s securities in connection with the offer .
Employment Terms
| Term | Disclosure |
|---|---|
| Start of service as GDO CCO | Since 2020 |
| Appointment and term | Officers are chosen annually by the Board and hold office until successors are elected and qualified |
| Compensation from Fund | Officers receive no compensation from the Fund; travel out-of-pocket reimbursement permitted |
| Severance/Change-in-control | Not disclosed in GDO filings reviewed for officers |
| Clawbacks/Tax gross-ups/Ownership guidelines | Not disclosed in GDO filings reviewed for officers |
| Role in Board risk oversight | Board meets with the Fund’s CCO to discuss risk issues and the Fund’s policies, procedures, and controls |
Investment Implications
- Alignment and selling pressure: With zero reported beneficial ownership and no Fund-based equity awards, there is no scheduled vesting-driven selling pressure from Mr. Jensen, and minimal direct alignment to GDO stock performance .
- Compensation linkage: As Fund officers receive no compensation from GDO, incentives are primarily tied to external employer (Franklin Templeton) rather than Fund-level pay structures; pay-for-performance at the Fund is not applicable for the CCO role .
- Retention risk: Officers are appointed annually without disclosed severance or change-in-control terms, indicating standard governance renewal rather than contractual retention mechanisms; continuity depends on Board appointments and the external employer’s role .
- Governance and risk oversight: The CCO engages regularly with the Board on risk management, policies, and controls—an important qualitative lever for fund operations and compliance robustness, though not directly tied to equity incentives .