Franklin Templeton has revealed its new head of Asia Pacific (APAC), including India, as well as an updated distribution team within the region as it completes its acquisition of Legg Mason.
Vivek Kudva has been appointed head of APAC and will be responsible for leading the firm's retail and institutional distribution across the region.
Franklin Templeton said his appointment will be effective upon the completion of the company's acquisition of Legg Mason, which is expected on 31 July 2020.
Kudva has over three decades of industry experience and expertise in asset management and banking. Prior to taking on his new role Kudva worked as Franklin Templeton's head of EMEA and India, based in Mumbai.
|Sponsored by Insight Investment|
Towards a perfect currency solution
Franklin Templeton president and chief executive Jenny Johnson said the acquisition of Legg Mason will establish Franklin Templeton as one of the world's largest independent asset managers, with a newly combined AUM that will be over USD$164 billion in the APAC region.
"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," Johnson said.
"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."
Additionally, Kudva announced a senior leadership team with expanded responsibilities in the combined organisation within the APAC region.
Matthew Harrison will continue in his role as managing director Australia and New Zealand. Linda Lian will take on a new role as head of China strategy. Isabella Chan will be appointed head of Hong Kong. Shannon Wang will continue as general manager of Legg Mason Investments (Taiwan).
For India, Sanjay Sapre will continue in his role as president of Franklin Templeton (India). In Japan, Suguru Kuwahata, current president of Legg Mason (Japan) and Tatsuta Ogichi, current president of Franklin Templeton Japan will work together to continue to develop the Japan business.
In Korea, Yong-bae Jeon will continue in his role as president. Avinash Satwalekar will take on an expanded role as country head of Malaysia. Dora Seow will take on an expanded role as country head of Singapore and the broader South East Asia region (ex-Malaysia and Vietnam). Richard Surrency will continue his role as head of alternative sales, Asia.
Kudva said he was delighted to be taking up the new role as head of APAC for Franklin Templeton as the acquisition of Legg Mason becomes final.
"Our clients will benefit from the added capabilities across multiple world-class specialist investment organisations, and I look forward to working with my experienced leadership team to continue to deliver the exemplary service our clients expect from us," Kudva said.
"The combination of our two distribution platforms will enhance organic growth in the region as we expand our presence in key markets such as Japan and Australia. In addition, we see tremendous growth potential in China as the country continues to further liberalise and open up its market."
Meanwhile, Franklin Templeton announced Mark Browning, managing director for APAC, and David Chang, regional head for greater China, will both depart the firm.
Additionally, Andy Sowerby, currently chief executive of Australia & New Zealand and head of Asia Pacific (ex-Japan) for Legg Mason, has decided to leave the organisation.
Franklin Templeton said Browning, Chang and Sowerby will be staying on for a transitional period after the acquisition.
"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," 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."