Franklin Templeton in Australia, the subsidiary of the $1 trillion Franklin Resources, is going through a management restructure.
Maria Wilton, (pictured) the local managing director for the past 11-or so years, will become a consultant/advisor to the firm, she has confirmed.
Her exact role is still to be decided and will, at least in part, depend on the person who fills the new top role, according to industry newsletter «Investor Strategy News» Wilton’s departure date has not yet been set.
Head Count Reduction
Her move follows the departure in March this year of Jim McKay, who has become the managing director or Warakirri Asset Management.
Charlie Levinge, a former senior institutional sales person, also left Franklin Templeton in March to become head of institutional at multi-affiliate manager Grant Samuel Asset Management.
And the two most senior institutional business executives, Keri Pratt and Jim Savage, were made redundant last year due to a global head-count reduction policy.
