Franklin Templeton Investments has appointed Adam Quaife as regional head of Southeast Asia and co-CEO of Singapore business.

Quaife has replaced Stephen Grundlingh, who has relocated to the firm’s San Mateo headquarters to assume the newly created global role of channel head of institutional strategy.

Quaife in his new role will spearhead the firm’s retail and institutional distribution efforts across the region. He will report to the company’s Asia Pacific managing director Mark Browning.

Quaife was previously responsibilities for leading the firm’s retail and institutional operations in Central and Eastern Europe and the Middle East from Dubai. He also served at the firm’s Asia-Pacific business, and its institutional business in London.

His career also includes business development roles at AXA and Colonial First State.

"With growing wealth, positive demographics and deepening capital markets, South-east Asia represents a wealth of untapped opportunities in the asset management sector. Adam's strengths as a leader, his deep understanding of our businesses and his strong experience in various international markets working with some of the world's largest sovereign wealth funds, ideally position him to head our efforts in South-east Asia," Browning commented.