Asia continues to lag other regions for integrating ESG principles with investing; better data and stronger regulatory requirements will help institutional investors, market observers say.
Wayne Shum, managing director, has served as MD for institutional business since the departure of Thomas Duffy in 2005. Duffy had run Fiduciary TrustÆs Asia Pacific business, and took over Franklin TempletonÆs institutional side when the firm acquired Fiduciary. Shum joined Franklin Templeton in Hong Kong the previous year after working at Mercer Investment Consulting.
Lin, however, is a Franklin Templeton veteran, having worked at the firm since 1995, bar two years as CFO at Chinadotcom, a Hong Kong internet-boom start up. He will now report to Bill Yun, Franklin Templeton GroupÆs head of institutional business in New York. Shum will continue his institutional work in Asia, reporting to Lin.
Lin has spent the past three years as CEO of Franklin TempletonÆs China JV with Sealand Securities in Shanghai. He oversaw the JVÆs acquisition of a license and the launch of its first products.
ôI did three years at the joint venture and helped bring its AUM to $430 million, and it seemed like time to move on,ö Lin says. The JV will now be run by Michael Lin, a mainland national who has experience working at a number of fund management companies in China.
But Jack Lin expects his new role will require him to retain a constant hand in ChinaÆs market. ôWe take great interest in China,ö he says, noting that he will be speaking with the same institutions about international business as he had when he was working in Shanghai.
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