The appointment for a key role comes as the firm prepares to push through with its acquisition of fellow asset management group Legg Mason, an example of consolidation working its way through the North American sector.

Franklin Templeton has appointed Adam Spector as executive vice president, head of global distribution, overseeing global retail and institutional distribution, including marketing and product strategy. Spector reports to president and chief executive Jenny Johnson.

Subject to completion of the firm’s acquisition of Legg Mason, expected on July 31, 2020, Spector will assume this new role effective October 1, 2020, Franklin Templeton said in a statement yesterday. 

Spector is managing partner of Brandywine Global Investment Management, a specialist investment organization within Legg Mason, and will retain and remain fully committed to that role as he takes on this broader strategic role for the combined firm. 

“The acquisition of Legg Mason will establish Franklin Templeton as one of the world’s largest independent asset managers, with approximately $1.4 trillion in assets under management globally,” Johnson, said. 

“Adam Spector is a veteran business and distribution leader, with over two decades of experience with Brandywine Global and more than three decades in the industry. He will be responsible for leading our new regionalized distribution model with the goal of heightening responsiveness to opportunities at the local level, while strengthening Franklin Templeton’s ability to bring the full breadth of our global investment expertise closer to the client.” 

Franklin Templeton’s new distribution model is organized into four regions: US; Asia-Pacific; Europe, Middle East, Africa; and Americas ex-US. The four regional heads will report to Spector. Until Spector begins his new role, Johnson and Jed Plafker, recently appointed to a new role as EVP, global alliances and new business strategies, will continue to co-lead the company’s corporate-level distribution efforts.