Franklin Templeton India has appointed Vivek Kudva as its new Indian president. Kudva will be based in Mumbai and be responsible for overseeing the domestic asset management business.

He joins Templeton from National Bank of Oman where he was general manager. During his career he has has also held the position of country head, HSBC personal financial services, India.

Kudva, who is an engineer from IIT Delhi and an MBA from the Indian Institute of Management, Ahmedabad, will work closely with Rajiv Vij, TempletonÆs managing director for Asia & CEEMEA region.

Kudva fills a void created when Ravi Mehrotra left Franklin Templeton in December. Mehrotra was an industry stalwart with over a decadeÆs experience in asset management.

He had been president at Franklin Templeton since 2003. During his tenure Mehrotra was widely credited with making Franklin Templeton one of the leading private sector fund management houses. In January Mehrotra joined AIG as regional head of AIGIGÆs Asia asset management companies to establish its asset management arm in India and look into its overseas asset management initiatives in Asia.