American investment management company Franklin Resources has appointed Jennifer Johnson as its new president and CEO.
Jennifer Johnson will assume the responsibilities of chief executive from her brother Gregory Johnson, who will now become the executive chairman of Franklin Resources.
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Additionally, Gregory Johnson will retain his role as chairman of the company’s board of directors.
The leadership change will take place following Franklin Resources’ annual stockholder meeting on 11 February 2020.
Gregory Johnson said: “Jenny’s appointment as president and CEO is the natural evolution of her current role and recognises both her strong track record and our confidence in her ability to lead the firm strategically into the future.
“Jenny has significant experience leading and working with all parts of our business and brings extensive knowledge of the global investment management industry.”
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By GlobalDataIn her new role, Jennifer Johnson will devise long term objectives of the company.
As executive chairman, Gregory Johnson will represent the company with key stakeholders and provide strategic guidance on M&A opportunities.
Jennifer Johnson said: “I am excited by the possibilities ahead for both Franklin Templeton and our industry.
“We are well positioned to seize the right opportunities to grow our business and to continue to deliver strong investment results for our shareholders and clients around the world.”
Since her joining in 1988, Jennifer Johnson held several positions at Franklin Resources, including its chief information officer.
Franklin Resources operates as Franklin Templeton and offers investment management services to retail, institutional and sovereign wealth clients globally.
Last year, Franklin Templeton signed an agreement to acquire New York-based alternative asset manager Benefit Street Partners.
