Money Management

Franklin Templeton adds U.K. head of defined contribution

David Whitehair was named head of U.K. defined contribution at Franklin Templeton (BEN), a spokeswoman said.

The position is new. Mr. Whitehair is responsible for developing the firm's U.K. DC business, working with the investment teams to design funds that address both accumulation and decumulation phases of investing.

Mr. Whitehair was senior DC business development manager focusing on investment at Fidelity International. Information on a replacement could not be learned immediately.

"The DC landscape continues to evolve following the introduction of auto enrollment, pension freedoms and the ongoing shift from DB to DC," said Martyn Gilbey, U.K. country head at Franklin Templeton, in a news release. "We recognize the increasing importance of DC in the U.K. pension market and are committed to developing investment solutions that meet the needs of this fast growing industry. (Mr. Whitehair's) wealth of knowledge and industry relationships will be invaluable to us as we continue to build out our DC offering in the U.K."