Franklin Templeton has announced the appointment of a new head of APAC, as well as the departure of a number of executives ahead of its acquisition of Legg Mason.
Vivek Kudva will take the role of Franklin Templeton’s head of Asia Pacific, including India, reporting to head of global advisory services Adam Spector. Mr Kudva will be responsible for leading the firm’s retail and institutional distribution across the region and will be based in Mumbai. His appointment is effective at the completion of Franklin Templeton’s acquisition of Legg Mason, which is expected on 31 July 2020.
“I would like to congratulate Vivek Kudva on his new role to lead the team in delivering a range of truly diversified global investment strategies through an expansive distribution organisation with global reach and scale,” said Jenny Johnson, president and CEO of Franklin Templeton. “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.”
Mark Browning, managing director for APAC, and David Chang, regional head for greater China, will both depart the firm. Andy Sowerby, currently CEO of Australia and New Zealand and head of APAC for Legg Mason, has decided to leave the organisation.
“We would like to thank Mark Browning, David Chang and Andy Sowerby for their dedicated service and invaluable contribution in building a strong franchise for Franklin Templeton and Legg Mason in the region,” Ms Johnson said. “Moving forward, I am confident that our combined regional footprint led by Vivek will create a distribution powerhouse in the region, while significantly deepening our presence in key focus countries.”
Matthew Harrison will continue in his role as managing director for Australia and New Zealand. Linda Liang will take up a new role as head of China Strategy, overseeing Franklin Templeton’s wholly owned foreign enterprise in China as well as its joint venture company Franklin Templeton Sealand Fund Management. Isabella Chan will be appointed head of Hong Kong, with additional responsibility for the Taiwan business.