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July 13, 2021

Franklin Templeton names new Asia Pacific chairman

By Verdict Staff

Franklin Templeton has appointed Yu Meng as executive vice-president and chairman of Asia Pacific to bolster the reach of its investment offerings in the region.

Free Report
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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Meng will work closely with the firm’s existing leadership to help drive its Asia Pacific and global growth strategy and will also be joining the firm’s executive committee.

He will report to Franklin Templeton president and CEO, Jenny Johnson.

Meng was previously chief investment officer for the California Public Employees Retirement System (CalPERS).

Prior to that, he worked at State Administration of Foreign Exchange (SAFE) as deputy chief investment officer.

According to Franklin Templeton, Meng’s expertise in serving in top investment roles in two of the largest asset owners will help the firm expand the reach of its tailored solutions offered to institutional clients globally.

Commenting on the appointment, Johnson said: “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.

“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.”

Meng said: “I have long respected Franklin Templeton’s business, its long-term focus, and its collaborative, client-first culture and global reach.

“I look forward to working closely with Jenny and the Franklin Templeton team to execute upon the firm’s strategic priorities across the region.”

Last December, Franklin Templeton launched a turnkey robo-adviser, in association with digital wealth technology provider Bambu and custody and clearing engine Apex Clearing.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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