Stephen H. Dover was appointed to the new role of chief market strategist and head of Franklin Templeton's new investment institute, the company said in a news release Tuesday.
Mr. Dover who is based in the firm's headquarters in San Mateo, Calif., currently is head of equities for Franklin Templeton. He is to relinquish that post to Terrence Murphy, who will remain CEO of ClearBridge Investments, a Franklin subsidiary. Mr. Murphy is based in New York.
Messrs. Dover and Murphy assume their new roles Feb. 1. Both will report to Jennifer M. Johnson, president and CEO of Franklin Templeton and CEO of parent company Franklin Resources.
In his new position, Mr. Dover will provide market insights for the firm and lead the investment institute's operations, which include sharing research with Franklin Templeton's investment teams, customized data analysis, proprietary content tailored for investors' geographic location and markets, and academic partnerships, Mr. Dover said in an interview.
"The No. 1 request we get from institutional and retail investors, gatekeepers, registered investment advisers and other investors is for non-product-oriented, investment-related advice," Mr. Dover said.
Franklin's clients are "enthusiastic" about the institute, he said, noting that more than 100 of Franklin's institutional investors have requested meetings with the institute ahead of the Feb. 1 roll out.
In his expanded role, Mr. Murphy is to focus on "setting strategy and driving organizational growth" for Franklin Templeton's equity teams that manage a range of equity strategies for institutional and retail investors, the release said.
"In a changing industry, my focus will be on expanding distribution for the equities business and ensuring the investment teams have the right talent pipeline and resources to support future growth and meet client needs," Mr. Murphy said in the release.
"With these appointments and the launch of the investment institute, we are doubling down on what sets our firm apart," Ms. Johnson said in the release.
Franklin Resources managed $1.42 trillion as of Dec. 31.
