Yu "Ben" Meng was named executive vice president and chairman of Asia Pacific at Franklin Templeton, spokeswoman Lisa Gallegos confirmed in an email.
It is a new position. Effective Thursday, Mr. Meng will be responsible for expanding Franklin Templeton's investment offerings within the Asia-Pacific region, particularly the firm's private equity, venture capital and other alternatives capabilities. He will report to Jenny Johnson, president and CEO, and serve on the firm's executive committee.
Franklin Templeton had about $165 billion in assets under management for the Asia-Pacific region as of May 31.
Mr. Meng was chief investment officer of the $473.4 billion California Public Employees' Retirement System, Sacramento, before resigning in August, after regulatory filings disclosed he had invested in shares of private equity managers with which the pension fund had invested in the past. CalPERS has launched a search for a replacement and expects to hire a new CIO by the end of 2021.
Franklin Templeton had $1.5 trillion in total AUM as of May 31.
