Bruce G. Leto

Chair, Investment Management

Bruce Leto


Bruce G. Leto, chair of Stradley Ronon’s investment management group since 1994, provides counsel to investment companies, investment advisers, independent trustees and broker-dealers on securities and corporate law matters relating to pooled investment products, including registered and unregistered, open- and closed-end investment companies. Bruce is a member of Stradley Ronon’s board of directors. He is also an appointee to the advisory board of the Mutual Fund Directors Forum, a nonprofit membership organization for investment company independent directors dedicated to improving mutual fund governance, and is on the advisory board of Board IQ, an industry publication that addresses issues confronting investment company independent directors.

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Representative Matters

  • managed multiple fund and investment adviser representations, including those for three of the top 10 mutual fund complexes in the country (involves the management of legal teams with more than 20 members each)
  • served as independent trustee counsel for multiple fund groups, including one of the top 10 mutual fund complexes in the country
  • supervised the establishment of an alternative fund involving 12 sub-advisers and the adoption of registered fund compliance policies and procedures, including related board approval
  • structured and implemented a unique institutional complex of mutual funds involving fund-of-funds; asset allocation; and significant partnership, tax and international securities law issues (this project involved the receipt of multiple SEC exemptive orders)
  • managed multiple complex-wide proxy solicitations for clients involving hundreds of mutual fund participants
  • served as an expert witness for interested trustees in SEC enforcement proceedings relating to valuation
  • created and prepared all documentation relating to two closed-end funds offered in firm commitment underwritings, including corporate organization, preparation of the registration statement and preparation of the New York Stock Exchange listing application
  • managed the reorganization of multiple closed-end funds into a combination of other closed-end and open-end funds, and re-domesticating closed-end funds
  • structured and supervised the conversion of a closed-end fund into an open-end fund
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Bar Admissions
  • New Jersey
  • Pennsylvania
Court Admissions
  • Pennsylvania Supreme Court
  • New Jersey Supreme Court
  • J.D., cum laude, Villanova University School of Law
  • B.A., cum laude, Haverford College

  • American Bar Association
  • Board of Directors, Philadelphia Orchestra
  • Board of Trustees, Settlement Music School

  • French
  • Italian


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Speaking Engagements

  • Panelist, “The Oversight of Sub-TA Fees,” BoardIQ Exchange webcast
  • Panelist, “Hot Topics and Challenging Issues for Fund Boards: Independent Counsel Roundtable,” Investment Company Institute’s 2015 Mutual Funds and Investment Management Conference
  • Presenter, “What a Difference a Year Makes: A New Era of Enforcement, Class Actions and Opt-Out Litigation,” Stradley Ronon seminar held during the 2014 ICI Mutual Funds and Investment Management Conference
  • Presenter, “Beyond Morgan Keegan – Valuation, Compliance and Enforcement Issues for Directors,” Independent Directors Council webinar
  • Panelist, “The Director's Point of View 2013: Bringing Current Mutual Fund Issues into Focus,” Stradley Ronon seminar for independent directors
  • Presenter, “Board Issues Roundtable: Independent Counsel Perspectives,” Investment Company Institute
  • Panelist, “The Director's Point of View: A Discussion of Current Mutual Fund Issues,” Stradley Ronon seminar for independent directors
  • Presenter, “Securities Lending: Where We’ve Been, Where We’re Going” Stradley Ronon seminar held during the 2012 ICI Mutual Funds and Investment Management Conference
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  • Ignites, “Fund Titan” in the Outside Counsel category
  • The Mutual Fund Wire, “100 Most Influential People in '40 Act Funds”
  • Chambers USA: America’s Leading Lawyers for Business
    • listed in tier 1 for nationwide investment funds: registered funds
    • noted by clients as a "very accomplished lawyer" and "valued business partner"
  • Legal 500, Leading Lawyer for mutual/registered funds
  • The Best Lawyers in America
  • SmartCEO magazine, Legal Elite
  • Pennsylvania Super Lawyers
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In The Community

Bruce is a member of the board of trustees of Settlement Music School, the largest community school of the arts in the United States, and of the board of directors of the Philadelphia Orchestra.
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