Franklin Resources Inc has appointed Vijay Advani as Co-President with effect from 1st October 2015. Vijay Advani, who set up FT's Indian business in the mid 1990s, has become the first Indian to become President of a global fund house.

Here is an extract of the press release from Franklin Templeton Investments:

Franklin Resources, Inc. Appoints Vijay C. Advani and Jennifer M. Johnson as Co-Presidents Gregory E. Johnson Continues as Chairman of the Board and Chief Executive Officer

Franklin Resources, Inc. today announced the appointments of Vijay C. Advani and Jennifer M. Johnson as Co-Presidents, effective October 1, 2015. Current President, Gregory E. Johnson, will continue in his role as Chairman of the Board and Chief Executive Officer.

The Co-President appointments were unanimously approved by the company's Board of Directors and reflect their confidence in the continued leadership of Mr. Advani and Ms. Johnson, who have each been with the firm for more than 20 years and have served as members of the CEO's direct report group since its formation in 2005.

"As our company continues to grow in size and complexity, one of our most essential responsibilities is to ensure that we have the right talent and resources in place so that we remain nimble in our decision-making and maintain a clear focus on our business priorities to drive the continued growth of the company," said Greg Johnson. "Vijay and Jenny have been instrumental to the company's long-term growth and their new roles as Co-Presidents will give them expanded responsibilities, and provide us with a fresh perspective from two extremely experienced and innovative thinkers in our industry. I will continue as Chairman and CEO, with Vijay and Jenny working closely with me to make enterprise-level decisions."

As Co-Presidents, Mr. Advani and Ms. Johnson will now jointly oversee investment management and all related investment management support services, including trading and risk management, in addition to their previous areas of responsibility. Mr. Advani has served in his current role as Executive Vice President, Global Advisory Services since 2006, responsible for the company's global retail and institutional strategies and initiatives, including sales, marketing, client service and product development. He joined Franklin Templeton in 1995 and has served in various leadership roles in the areas of international retail development and global distribution.

Ms. Johnson has served as Executive Vice President and Chief Operating Officer since 2010, overseeing the company's global transfer agency operations, investment services, technology, human resources and Fiduciary Trust Company International. She joined the firm in 1988, and previously served as the company's Chief Information Officer

Wealth Forum congratulates Mr. Vijay Advani on this fantastic achievement! This is indeed a big day for the Indian mutual fund industry!

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