Franklin Templeton completed the acquisition of Legg Mason and its affiliated specialist investment managers on Friday (31 July), creating a $1.4trn asset management giant.
Parent company Franklin Resources said the deal would deepen Franklin Templeton's presence in key geographies, creating an expansive investment platform that is well balanced between institutional and retail client assets. Jenny Johnson, president and CEO of Franklin Templeton, called the purchase "the most significant transaction in Franklin Templeton's history". Johnson said that while much had happened since the initial announcement of the acquisition, "the strategic rationale for this powerful combination has only strengthened". "This acquisition unlocks substantial value and grow...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
