Another two senior executives, who oversaw private equity investment and wholesale clients, have left the firm following Franklin Templeton’s takeover of rival fund house Legg Mason.
The US fund manager, fresh from its acquisition of rival Legg Mason, sees China as a huge opportunity in respect of asset owners, both onshore and offshore.
A long-serving Franklin Templeton executive will lead the combined entity in the region once the Legg Mason acquisition is complete. But the appointee has come as a surprise to some.
But while Morningstar sees the bond house as the "strength" of Franklin Templeton's takeover of Legg Mason, the merged firm may be vulnerable to competition from index fund managers.
The fund industry’s latest mega-takeover has big implications for the two firms and for their clients in Asia. AsianInvestor looks at issues that the deal raises.
Industry veterans formerly at AllianceBernstein and Axa Investment Managers have taken up the respective roles, as the mainland talent merry-go-round continues.