After announcing the acquisition of Legg Mason a couple months ago, Franklin Templeton has stablished the new structure of its global distribution team. Adam Spector will become Head of Global Distribution, overseeing global retail and institutional distribution, including marketing and product strategy, and will be reporting to President and CEO Jenny Johnson. Subject to completion of the firm’s acquisition of Legg Mason (expected on Friday, July 31) Spector will assume this new role effective October 1, 2020.
Spector currently serves as Managing Partner of Brandywine Global Investment Management, LLC, a specialist investment organization within Legg Mason, and will retain that role. Brandywine Global’s brand, investment independence and dedicated client service model will remain unchanged, stated Franklin Templeton on a press release.
Prior to his role as Managing Partner, Spector led Brandywine Global’s Marketing, Sales and Client Service organization. Before joining Brandywine Global in 1997, Spector was a director in the international investment management group for SEI Investments and the co-founder of a start-up in Prague.
Franklin Templeton’s new distribution model is organized into four regions: United States; Asia Pacific; Europe, Middle East, Africa; and Americas ex-U.S.; with more functions that were previously centralized now aligned to the regions. The four regional heads will report to Spector. Until he 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.
“Bringing together the complementary strengths of the two firms (Franklin Templeton and Legg Mason) will allow us to create a more balanced and diversified organization that is competitively positioned to serve more clients in more places”, said Spector.
Julian Ide, Head of EMEA Distribution
Franklin Templeton also announced the appointment of Julian Ide as Head of EMEA Distribution. Edinburgh-based, Ide will remain as CEO of a specialist investment organisation of Legg Mason, Martin Currie. He will report to Spector.
The asset manager explained that “using his vast experience in the investment management industry”, Ide will play a leading role in further developing their distribution strategy and unlocking opportunities for growth in the EMEA region.
“I am delighted to be taking up my new role. Franklin Templeton is one of the world’s largest global asset managers with a strong investment focus, extensive value-add client partnerships and robust track records across many equity and fixed income asset classes. I am excited by the vision of the senior leadership team and the innovative culture to deliver an ambitious agenda in EMEA”, Ide commented.
The asset manager insisted that the core facets of Martin Currie will remain unchanged: “Martin Currie will continue to have investment independence as well as institutional distribution and client service independence. The Martin Currie brand will continue as a strong presence in active equity management and the group will continue to look for ways to innovate, to improve its alpha generating capabilities and service to clients”.
Continental Europe and Latin America
They also revealed that Paris-based Michel Tulle will continue to oversee distribution efforts in Continental Europe. He will be further supported by Stefan Bauer, Country Head in Germany; Michele Quinto, Country Head in Italy; Patrick Lutz, Country Head in Switzerland; Javier Villegas, Head of Distribution Iberia; Bérengère Blaszczyk, Head of Distribution France and Benelux and Mats Eltoft, Head of Distribution in the Nordic region.
Furthermore, Hugo Petricioli, will remain as Country Head for Mexico and Central America. He will continue to report to Andrew Ashton, CFA and Managing Director Head of Americas ex-US Distribution, which includes Canada, Latin America and Americas Offshore. Ashton will take on additional responsibility for marketing and product strategy across the region, and he will also report to Spector.
Johnson, CEO of Franklin Templeton, said that the acquisition of Legg Mason will establish them as “one of the world’s largest independent asset managers, with approximately $1.4 trillion in assets under management globally”.
For Alicia Miguel Serrano
