Martin Currie’s Ide adds Franklin Templeton role
Additional role: Julian Ide
Martin Currie chief executive, Julian Ide, will take on a further role when Franklin Templeton this week completes its acquisition of the fund manager’s owner Legg Mason.
Mr Ide will remain in his role at the Edinburgh-based boutique firm while also becoming head of EMEA distribution for the US giant.
He joined Martin Currie in 2018 as head of distribution and strategy and was named CEO in March last year. He now reports to Adam Spector, who was named head of global advisory services this week.
Franklin Templeton is aiming for this Friday (31 July) to complete the deal for rival Legg Mason, which was announced in February. The $4.5 billion all-cash takeover will create an entity with $1.5trn in assets.
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It is the latest move to consolidate global funds following Standard Life’s tie-up with Aberdeen Asset Management and Liontrust’s takeover of Neptune. US Invesco bought OppenheimerFunds from Massachusetts Mutual Life Insurance Co and Jupiter Fund Management agreed to acquire UK asset manager Merian Global Investors.
Franklin Templeton said that Martin Currie’s core business focus will remain unchanged. It will continue to have investment, institutional distribution and client service independence.
In his new role Mr Ide takes over responsibilities previously held by Vivek Kudva, managing director for EMEA and India, who will move to a new role leading the distribution efforts in Asia Pacific and India.