Franklin Templeton Appoints Dr. Ben Meng as EVP and Chairman of Asia Pacific

Rhea-AI Summary

Franklin Templeton appointed Dr. Yu (Ben) Meng as Executive Vice President and Chairman of Asia Pacific, effective July 15, 2021. In this newly created position, he will enhance the firm's growth strategy in the region, focusing on private equity, venture capital, and alternative assets. Dr. Meng's extensive experience includes serving as Chief Investment Officer at CalPERS and Deputy Chief Investment Officer at SAFE. His leadership aims to deepen Franklin Templeton's commitment to the Asia Pacific market, aligning with the company's long-term investment philosophy.

Positive

• Dr. Meng's extensive experience in asset management may strengthen Franklin Templeton's growth in Asia Pacific.
• The appointment reflects Franklin Templeton's commitment to expanding its alternative asset business.

Negative

• Dr. Meng's entry may present challenges in maintaining continuity due to his new leadership role.

Franklin Templeton today announced the appointment of Dr. Yu (Ben) Meng as Executive Vice President and Chairman of Asia Pacific, effective July 15, 2021. In this newly created role, Dr. Meng will help drive Franklin Templeton’s Asia Pacific and global growth strategy in partnership with the firm’s existing leadership. He will report to President and CEO Jenny Johnson and serve on the firm’s Executive Committee.

Dr. Meng’s appointment builds on Franklin Templeton’s strategy to expand the reach and breadth of its investment offerings in the Asia Pacific region, with a particular focus in private equity, venture capital and other alternative asset capabilities. He will also leverage his expertise gained from serving in top investment roles at two of the largest asset owners in the world to help expand the reach of Franklin Templeton’s tailored solutions it provides to institutional clients globally.

“Expanding our alternative asset business and deepening our overall commitment to the Asia Pacific region are key strategic priorities for Franklin Templeton, and Ben is uniquely experienced and positioned to lead important initiatives in the region,” said Ms. Johnson. “He brings to Franklin Templeton a strong track record for delivering results across a broad range of asset classes and extensive experience and knowledge of the region. His approach to asset and risk allocation, along with his belief in active investment, align well with our investment philosophy, and we are thrilled to welcome Ben to the Franklin Templeton family.”

“I have long respected Franklin Templeton’s business, its long-term focus, and its collaborative, client-first culture and global reach. I am excited to build upon the firm’s nearly 75-year history and to be part of its next phase of growth in the Asia Pacific region,” said Dr. Meng. “I look forward to working closely with Jenny and the Franklin Templeton team to execute upon the firm’s strategic priorities across the region.”

Dr. Meng previously served as Chief Investment Officer for the California Public Employees Retirement System (CalPERS), where he oversaw investment strategies for its over USD $460 billion¹ multi-asset class portfolio. He also served as Deputy Chief Investment Officer for the State Administration of Foreign Exchange (SAFE), which manages over USD $3 trillion,² including investments in real estate, infrastructure, private equity and private credit.

Dr. Meng holds a Master of Financial Engineering degree from the Haas School of Business at the University of California at Berkeley and a Ph.D. in Civil Engineering from the University of California at Davis. He serves on the editorial board of the Journal of Investment Management (JOIM) and frequently teaches at top business schools globally. He is a member of the Council on Foreign Relations and the Committee of 100.

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 165 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 brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and approximately $1.5 trillion in assets under management as of May 31, 2021. For more information, please visit franklinresources.com.

1. CalPERS AUM - https://www.calpers.ca.gov/page/investments
2. SAFE AUM - http://www.safe.gov.cn/en/ - click on "Data Template on International Reserves and Foreign Currency" at the bottom right, then click on "05" (the month of May) at the bottom left to download an Excel file with the size of reserve as USD $3.36 trillion as of May 31, 2021.

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FAQ

Who is Dr. Yu (Ben) Meng and what is his role at Franklin Templeton?

Dr. Yu (Ben) Meng is appointed as Executive Vice President and Chairman of Asia Pacific at Franklin Templeton, effective July 15, 2021.

What are Dr. Meng's responsibilities at Franklin Templeton?

Dr. Meng will drive Franklin Templeton's Asia Pacific growth strategy, focusing on private equity and alternative assets.

What is the significance of Dr. Meng's appointment for investors in BEN?

His appointment could enhance the firm’s strategic initiatives in Asia Pacific and strengthen growth potential.

What previous positions did Dr. Meng hold before joining Franklin Templeton?

He served as Chief Investment Officer for CalPERS and Deputy Chief Investment Officer for SAFE.

When did Dr. Meng start his role at Franklin Templeton?

Dr. Meng began his position on July 15, 2021.