William Yun was named executive vice president of alternatives strategies at Franklin Resources, a new position created to oversee the firms local asset management business, joint ventures, real estate, funds of funds and private equity. Mr. Yun had been president of Franklin Templeton Institutional. We believe that establishing a dedicated alternative investments platform for our specialized investment groups will best position us to capitalize on the strong growth and interest we have seen in these areas, said Greg Johnson, CEO at Franklin, in a news release. The firm plans to fill the role of president of Franklin Templeton Institutional, said spokesman William Weeks. Mr. Weeks could not provide more details about a potential search. Vijay Advani was named executive vice president of global distribution, responsible for institutional and retail products, also a new position. Mr. Advani is assuming the distribution portion of Mr. Yuns previous duties. Mr. Advani was previously executive vice president of Franklins Global Advisor Services, which oversees sales and marketing for retail products.