Permal Group, which has $19.5 billion under management and is owned by Legg Mason, has hired Coby McDonald as vice president - global consultant relations, with responsibility for managing and developing Permal's relationships with the investment consulting community. McDonald will report to Joshua Levine, senior vice president and head of Permal's institutional sales team.
Before Permal, McDonald was at EIM where he was a director, consultant relations. Prior to that, he was a vice president, global consultant relations, at BlackRock.
Levine said: "Over the past year, we have been seeing accelerated interest from the institutional market, making it