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Franklin Templeton Appoints Dean R. Sackett III as Managing Director of Government Affairs
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Franklin Resources, Inc. (NYSE:BEN) has appointed Dean R. Sackett III as Managing Director of Government Affairs. In this newly created role, Sackett will navigate U.S. policy matters, reporting to Paul Elmlinger, Deputy General Counsel and Global Head of Public Policy. With over 20 years at the Investment Company Institute, Sackett brings extensive experience in investment management policy. His focus will include areas such as retirement savings and regulatory measures impacting U.S. investors. Franklin Templeton aims to leverage this leadership change to enhance its influence in evolving policy discussions.
Positive
Appointment of Dean R. Sackett III expected to strengthen influence on U.S. policy matters.
Sackett's extensive experience in government affairs may provide valuable insights into legislative challenges.
Negative
Potential concerns about continuity with a newly created role and leadership change.
SAN MATEO, Calif.--(BUSINESS WIRE)--
Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton, today announced the appointment of Dean R. Sackett III as Managing Director of Government Affairs. In this newly created role, Sackett will represent Franklin Templeton and its specialist investment managers on a variety of U.S. policy matters. He will report to Paul Elmlinger, Deputy General Counsel and Global Head of Public Policy, and be based in Washington, D.C.
“As the U.S. policy landscape continues to change and evolve at a rapid pace, our work with Congress, regulators and other policymakers – directly and through trade associations – is critically important to our ability to help inform policy discussions to benefit our clients, including those saving for important life goals such as retirement, college education and purchasing a home,” said Elmlinger. “We are pleased to have someone of Dean’s caliber join our team. He brings extensive experience on Capitol Hill and deep perspective and comprehensive knowledge of the investment management industry, including policy matters that impact our investors and the firm itself.”
“Many important legislative and regulatory measures are currently being considered in the U.S. in areas including retirement savings, the democratization of investor access to alternative investments, sustainability issues, cybersecurity risk management and crypto and digital assets,” Sackett said. “I look forward to working with the experienced team at Franklin Templeton to ensure that our investors, including U.S. retirees, are given a strong voice on policy matters that impact their investments and financial well-being.”
Previously, Sackett was with the Investment Company Institute (ICI) for over 20 years, most recently serving as Chief Government Affairs Officer for nearly 13 years through December 2021. He joined the ICI in 2000 as a lobbyist and headed the financial services practice group before being appointed Chief Government Affairs Officer and Co-Head of Government Affairs in 2009. He was promoted to the sole head of Government Affairs in 2019. Before joining ICI, Sackett served as Vice President and led the government affairs department of the National Association of Professional Insurance Agents and worked on Capitol Hill for Congressman Bob Livingston and the House Appropriations Committee. In January 2022, Sackett founded Polaris Capitol Strategies, a boutique lobbying and public policy firm that provides strategic counsel to clients to navigate complex legislative and regulatory policy matters in the Washington, D.C., political environment. In this role, Sackett has represented Franklin Templeton since July 2022. Sackett graduated cum laude from West Virginia University and from the National Law Center at the George Washington University.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.4 trillion in assets under management as of February 28, 2023. For more information, please visit franklinresources.com.
