Vivek Kudva was named head of Asia-Pacific, including India, at Franklin Templeton, effective upon the completion of the firm's acquisition of Legg Mason.
The Asia-Pacific role has been expanded to include responsibility for India, a Singapore-based spokesman for the money manager said. Mr. Kudva will be based in Mumbai.
Mark Browning, managing director for Asia-Pacific, will be leaving the firm, according to a Franklin Templeton news release. Mr. Browning could not immediately be reached for comment.
Mr. Kudva will lead Franklin Templeton's retail and institutional distribution across the region, reporting to the firm's new head of global advisory services, Adam Spector.
Mr. Kudva is head of Europe, Middle East and Africa and India, based in Mumbai. Julian Ide, CEO of Martin Currie — a Legg Mason-owned international equity manager — will take on the role of head of EMEA for Franklin Templeton, the spokesman said. He will retain his role as CEO of Martin Currie.
Mr. Kudva's promotion was one of several leadership changes Franklin Templeton announced Tuesday pending the firm's merger with Legg Mason.
Linda Liang, chief administrative officer, Franklin Templeton Emerging Markets, will become the firm's head of China strategy, overseeing its wholly foreign owned enterprise in Shanghai as well as its joint venture company there, Franklin Templeton Sealand Fund Management Co.
The spokesman said a replacement will be named for Ms. Liang's chief administrative officer role. She will remain in Singapore for the time being but eventually relocate to mainland China when the COVID-19 situation permits, he said.
Isabella Chan, head of global financial institutions-APAC and head of retail business-Greater China, will also become head of Hong Kong, with additional responsibility for the firm's Taiwan business.
David Chang, regional head of Greater China, will retire following a transition period through Sept. 30, the spokesman said. Mr. Chang could not immediately be reached for comment.
Following the merger, which is expected to complete July 31, Suguru Kuwahata, president of Legg Mason Asset Management (Japan) Co. and Tatsuya Oguchi, president of Franklin Templeton Investments Japan, will both report to Mr. Kudva while Franklin Templeton makes "proposals to the local regulator on future plans of the two local entities," the spokesman said.
Meanwhile, Avinsh Satwalekar, CEO and country head of Franklin Templeton's Malaysian business, will take on oversight of Asia marketing (ex-Japan and India) — duties which had previously been handled by Mr. Browning, the spokesman said.
Dora Seow, Franklin Templeton's country head for Singapore, will add responsibility for the broader Southeast Asia region, ex-Malaysia and Vietnam while also taking on Asia institutional client services from Mr. Browning, the spokesman said.
Franklin Templeton had $622 billion in assets under management as of June 30.
