Franklin Templeton appoints Matthew Harrison and Tariq Ahmad as Asia-Pacific co-heads

Global investment firm Franklin Templeton on June 15 announced the appointment of Matthew Harrison and Tariq Ahmad as co-heads of Asia-Pacific (APAC) from August 1, 2022.

"In their roles, Matt Harrison, currently Managing Director, Australia, and Tariq Ahmad, currently Head of Asia Distribution, will have joint ownership and accountability of APAC strategy to best serve the firm’s clients and drive growth in the region," it said.

They take over from Vivek Kudva, Head of APAC, who will be retiring from Franklin Templeton on July 28, 2022, after 16 years at the firm.

A Franklin Templeton spokesperson said that Kudva was due to retire at age 60 - a typical retirement age in India - in July 2019, but was given a 3-year extension.

This extension, says the spokesperson, gets over in July 2022, and “Vivek is now retiring, pursuant to that plan,” he adds.

Kudva was at the centre of a storm created by Franklin Templeton India’s debt fund crisis that erupted in April 2020. Among various charges by SEBI put forth in its orders last year, one pointed out that Kudva took advantage of his position to withdraw his money from debt funds in the days leading up to the winding up.

The case is now sub-judice with the Securities Appellate Tribunal.

Harrison and Ahmad will report to Adam Spector, EVP – Global Advisory Services, and will jointly develop and execute the overall APAC strategy.

Adam Spector, EVP – Global Advisory Services at Franklin Templeton, said, “The Asia Pacific region is critical to the growth strategy for Franklin Templeton. Both Tariq and Matt are industry veterans with successful track records of leading investment management businesses. Their appointment will allow us to capture rapid growth opportunities in the backdrop of shifting market dynamics. Given the strengths of both leaders, we are confident that they will meaningfully accelerate the firm’s growth in the region.”

With the new appointments at the APAC level, coupled with Avinash Satwalekar’s appointment as the new President of Franklin Templeton India, the fund house aims to cover lost ground in India and win back investors and distributors’ confidence.