Marc De Oliveira
About Marc De Oliveira
Marc A. De Oliveira serves as Secretary and Chief Legal Officer of Western Asset Global Corporate Opportunity Fund Inc. (NYSE: GDO), holding the role since 2023; he was born in 1971 and is Associate General Counsel at Franklin Templeton since 2020, previously Managing Director (2016–2020) and Associate General Counsel (2005–2020) at Legg Mason & Co. . Fund officers receive no compensation from the Fund (reimbursed only for reasonable travel expenses), and nominees, directors, and officers as a group beneficially owned less than 1% of outstanding shares; GDO had 7,519,400 shares outstanding as of the Feb 7, 2025 record date . As Fund Secretary, he signs official proxy materials and notices on behalf of the Board .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Western Asset Global Corporate Opportunity Fund Inc. (GDO) | Secretary and Chief Legal Officer | Since 2023 | Not disclosed in proxy |
| Franklin Templeton | Associate General Counsel | Since 2020 | Not disclosed in proxy |
| Legg Mason & Co. | Managing Director; Associate General Counsel | 2016–2020; 2005–2020 | Not disclosed in proxy |
| Various Franklin Templeton/Legg Mason funds | Secretary and Chief Legal Officer; Assistant Secretary | Since 2020; Since 2006 | Not disclosed in proxy |
External Roles
No external directorships or committee roles for Marc De Oliveira are disclosed in the Fund’s proxy materials; his biography lists internal legal roles only .
Fixed Compensation
| Component | Disclosure |
|---|---|
| Base salary | Fund officers receive no compensation from the Fund |
| Bonus (target/actual) | Not applicable at Fund level (officers compensated by adviser) |
| Perquisites | Reimbursement for reasonable out-of-pocket travel expenses to attend Board meetings |
| Pension/SERP/Deferred comp | Not disclosed in proxy |
Performance Compensation
| Incentive Type | Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| Cash/Equity incentives tied to Fund officer pay | Not disclosed | — | — | — | — | — |
| Fund officers are not paid by the Fund; no PSU/RSU/option awards or performance metrics tied to Fund-level officer compensation are disclosed . |
Equity Ownership & Alignment
| Metric | Value | As of | Source |
|---|---|---|---|
| Direct beneficial ownership (Marc A. De Oliveira) | Not disclosed | — | Proxy does not provide officer-level ownership detail |
| Directors and officers (group) beneficial ownership | <1% of outstanding shares | Feb 7, 2025 | |
| Shares outstanding | 7,519,400 | Feb 7, 2025 | |
| Pledging/Hedging of company stock | Not disclosed | — | |
| Ownership guidelines for officers | Not disclosed | — |
Employment Terms
| Term | Details | Source |
|---|---|---|
| Current role and start date | Secretary and Chief Legal Officer since 2023 | |
| Officer appointment cadence | Officers are chosen annually by the Board and serve until successors are elected and qualified | |
| Compensation source | No compensation from the Fund (travel expense reimbursement only) | |
| Employment agreements, severance, change-of-control | Not disclosed in proxy materials | |
| Section 16 compliance | Fund states all filing requirements were met for FY ended Oct 31, 2024 |
Investment Implications
- Compensation alignment levers are minimal: Fund officers are not compensated or granted equity by GDO; thus, typical pay-for-performance, vesting overhang, or insider selling pressure analyses do not apply at the Fund level .
- Ownership alignment is limited at the Fund: management and nominees collectively own <1% of outstanding shares; absence of officer-level ownership data and pledging disclosures constrains alignment assessment .
- Retention risk appears low based on annual re-appointment norms for officers and long-tenured legal leadership within Franklin Templeton/Legg Mason complexes; however, no employment contracts or severance/CoC economics are disclosed to evaluate retention incentives .
- Trading signals from insider activity are not available in the proxy; with no Fund-level pay or vesting schedules, traditional executive incentive-driven trading cues are absent. Equity analysis should focus on portfolio strategy, distribution policy, fee structure, and NAV/market discount dynamics rather than officer incentives.