Franklin Templeton appoints new Head of Asia Pacific
Franklin Templeton has reportedly appointed Vivek Kudva as the new Head of Asia Pacific, including India.
The appointment comes as the firm prepares for the completion of the deal that saw it acquire its rival, Legg Mason, according to an article by Citywire Asia. The deal is set to be completed on July 31, 2020, said Franklin Templeton in a press release.
Kudva will be based in Mumbai in his new role, one that will see him take responsibility for the USD622 billion asset management firm’s retail and institutional distribution throughout the Asia Pacific region.
Kudva first joined Franklin Templeton in 2006, and was most recently the firm’s Head of EMEA and India, a position that he has held for nearly 15 years.
In his new role, Kudva will report to Franklin Templeton’s newly-appointed Global Head of Global Distribution, Adam Spector. Spector will oversee the firm’s global retail and institutional distribution, including marketing and product strategy, reporting to President and CEO Jenny Johnson.
Jenny Johnson, President and CEO, Franklin Templeton, said: “Vivek’s strengths as a leader and depth of experience in various international markets position him ideally to lead our newly combined business in the APAC region.”
Both Kudva and Spector will assume their new roles upon the completion of the acquisition of Legg Mason.
“The acquisition of Legg Mason will establish Franklin Templeton as one of the world’s largest independent asset managers, with approximately USD1.4 trillion in assets under management globally. Adam Spector is a veteran business and distribution leader, with over two decades of experience with Brandywine Global and more than three decades in the industry. He will be responsible for leading our new regionalised distribution model with the goal of heightening responsiveness to opportunities at the local level, while strengthening Franklin Templeton’s ability to bring the full breadth of our global investment expertise closer to the client. Adam’s existing strong knowledge of and relationships with Legg Mason’s specialist investment managers will help accelerate our progress and will be important in this critical position within the firm,” said Johnson.
Franklin Templeton’s new distribution model is reportedly organised into four regions—United States; Asia Pacific; Europe, Middle East, Africa; and Americas ex-US—with more functions that were previously centralised now aligned to the regions, increasing end-to-end accountability for regional client focus and growth. The four regional heads will report to Spector. Until Spector begins his new role, Johnson and Jed Plafker, recently appointed to a new role as EVP, Global Alliances and New Business Strategies, will continue to co-lead the company’s corporate-level distribution efforts.
Adam Spector, Global Head of Global Distribution, Franklin Templeton, said: “I am very excited to take on a role where I can partner with world-class portfolio managers, an experienced distribution team and savvy investors. The combined firm offers an unparalleled array of investment strategies and services, and we have the opportunity to help clients in new and differentiated ways. Bringing together the complementary strengths of the two firms will allow us to create a more balanced and diversified organisation that is competitively positioned to serve more clients in more places.”