Ms. Johnson, meanwhile, took the helm at Franklin at an inauspicious moment — February 2020, just as the COVID-19 pandemic was poised to strangle economic activity globally.
While doubts could be heard from the board about whether Franklin's planned purchase of Legg Mason Inc. — a centerpiece of its strategy to diversify its business through acquisitions — could be put on hold, "we … didn't look back," Ms. Johnson said. The firm completed that deal, and nine additional acquisitions since then.
Ms. Johnson said one thing she's passionate about is working to broaden "the pipeline of women coming into this industry." Hiring a senior woman from a competitor may benefit Franklin but it accomplishes nothing for the broader industry, she noted. Instead, efforts such as the internship program Franklin has pursued with historically Black colleges and universities, bringing people in early, can go far in building a more diverse pipeline of money management candidates, she said.
San Mateo, Calif-based Franklin reported $1.43 trillion of assets under management as of June 30.
