To assist in fostering the expansion of alternative solutions in the wealth channel, Franklin Templeton has formed a new team.
London-based George Szemere, who formerly served as head of business development for alternatives in EMEA, has been named head of alternatives EMEA Wealth Management.
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Szemere and his team will concentrate on expanding Franklin Templeton’s private market solutions within the EMEA wealth channel, as well as enhancing the firm’s collaborative efforts.
Moreover, Jake Williams was additionally appointed head of international alternatives product strategy, where he will handle the development of alternative products. Williams has 15 years of expertise in product development and in this job.
He is in charge of researching and developing innovative alternative items for markets other than the US. Williams joined Franklin Templeton in July 2023, having previously led Barings’ worldwide product strategy team.
Likewise, he formerly served as head of US Product at Legal & General Investment Management. Williams has held various product positions at HSBC Asset Management, BlackRock, and Lehman Brothers Investment Management.
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By GlobalDataFranklin Templeton’s EMEA Alternatives Wealth Management team offers a diverse range of alternative asset capabilities, including private credit, commercial real estate, social infrastructure, hedged strategies, and secondary private equity.
The firm manages over $255bn in alternative assets as of 30 April 2024.
Szemere commented: “Building on our success in the US and leveraging existing wealth solution capabilities, our ambition is to enable access to our deep bench of specialist alternative managers and strategies, through one relationship with a singular focus of helping the wealth channel build better investment outcomes for their respective clients. As private asset solutions in the wealth channel continue to gain momentum, we are committed to further expanding the team across client servicing and marketing roles.”
“Alongside our specialist alternative managers’ world-class investment expertise, the firm’s ongoing commitment to investing in distribution, training, and education initiatives, uniquely positions us to work with distribution partners to capture the growth opportunity in the EMEA wealth management channel. This regional initiative follows our success in the US where we have an established and dedicated alternatives wealth solutions team, delivering both product and award-winning educational content via the FT Academy and FT Institute.”
In today’s market, the wealth channel faces various obstacles. Fortunately, alternative investments have grown more accessible to a wider range of investors as a result of a combination of product innovation and access to industry-quality managers.
Williams added: “In the last couple of years, there has been a confluence of events in EMEA that are driving the democratisation of alternative investments similar to what has been seen in the US. Firstly, the current market environment highlights the need for a more robust and sophisticated toolbox for the wealth channel. Secondly, we see that product innovation, resulting from regulatory changes, has helped usher in more investor-friendly vehicles to deliver alternative investments and, finally, access to dedicated alternative managers has been critical to develop quality products targeted at the wealth channel. All of these elements, combined with the development of technology and improving infrastructures, have helped to democratise alternative investments.”
Earlier in the year, the bank reorganised its distribution leadership teams to meet local customer needs.
London-based Matt Harrison has been appointed head of Americas (ex-US), Europe & UK, global advisory services and will head the firm’s businesses in the Americas (ex-US), Europe, and the UK.
Harrison will remain to report to Adam Spector, EVP of global advisory services.
The merged area covers numerous markets, including Canada, Germany, Iberia, Italy, Latin America, and the United Kingdom, totalling $245bn in assets under administration.
