California-based investment manager Franklin Templeton makes senior hires.

Franklin Templeton has appointed Tariq Ahmad (pictured), head of the Asia-Pacific region (APAC) and Sandeep Singh, head of Central and Eastern Europe, Middle East and Africa (CEEMEA) & India, as co-heads of the newly-created Global Official Institutions Group.

The firm said that the initiative underscores its commitment to serving central banks and sovereign wealth funds globally – a segment that represents a $30 trillion opportunity for Franklin Templeton.

In their expanded roles, Ahmad and Singh will concentrate on building and strengthening relationships with institutions around the world, the firm said in a statement. In addition to their responsibilities, their remit will include developing tailored investment solutions aligned with the mandates and objectives of each institution in this segment, as well as delivering thought leadership, knowledge transfer, and customised training programmes.

Franklin Templeton has been serving institutions for more than 30 years. The establishment of the group reflects the firm’s belief in the significance of institutions as long-term investors which aim to diversify their reserve currencies and asset classes. Both bring regional expertise and a record of partnership-building, which will be instrumental in driving the success of this initiative.