Franklin Templeton completes Legg Mason acquisition

Lachlan Maddock
— 1 minute read

Franklin Templeton has completed its acquisition of Legg Mason, creating one of the world’s largest independent specialised investment managers.

The acquisition of Legg Mason gives Franklin Templeton a combined $1.4 trillion in assets under management (AUM) and expands its footprint across key geographies. 

“We’re extremely excited to announce the close of our Legg Mason acquisition, representing the largest and most significant transaction in Franklin Templeton’s history,” said Franklin Templeton president and CEO Jenny Johnson. “A tremendous amount has happened since we made our announcement in mid-February, but the strategic rationale for this powerful combination has only strengthened. 


“This acquisition unlocks substantial value and growth opportunities driven by greater scale, diversity and balance across investment strategies, distribution channels and geographies. Our combined firm is aligned in terms of culture and our shared focus on delivering strong investment results for our valued clients.”

Franklin Templeton believes the acquisition will bring “notable added leadership and strength” across core fixed income, equities and alternatives, and will expand its multi-asset solutions capabilities. No changes are planned for differentiated investment strategies. 

“A significant amount of work has gone into preparing us for this exciting firm combination over the past five months, all during an unprecedented pandemic with nearly everyone involved working remotely,” Ms Johnson said. “I want to thank employees from both companies for their tremendous contributions and exceptional focus on our clients and the business throughout the process.”

Franklin Templeton recently announced a string of executive appointments, including naming Vivek Kuda to the position of head of APAC, including India. Matthew Harrison is set to continue in his role as managing director for Australia and New Zealand, while 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.


Franklin Templeton completes Legg Mason acquisition
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