Franklin Templeton has appointed Mike Foley as its new head of US Institutional Services to oversee US institutional direct sales, consultant relations, and relationship management teams.
Foley will be responsible for providing leadership, innovative strategic direction, and driving growth for US institutional distribution, the company said in a statement.
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He will operate out of Franklin Templeton’s New York City office and will report to Franklin Templeton US Distribution head Jeff Masom.
Masom commented: “Since our acquisition of Legg Mason just over a year ago, Franklin Templeton has experienced a transformative period of growth and opportunity.
“We are thrilled for Mike to join our team as we continue to build upon the firm’s combined strengths in delivering our broad range of investment capabilities to US institutional clients.”
As head of US Institutional Services, Foley will focus on advancing the firm’s strategy for acquiring new business and retaining current client assets across the US institutional and consultant channels.
In addition, he will be also responsible for identifying areas for product development and additional market opportunities for the firm’s strategies.
Foley will also serve as an essential liaison to institutional distribution leaders at the firm’s independent specialist investment managers.
Foley said: “Following the acquisition, the combined footprint of the organization and commitment to innovation creates great potential to expand on a well-established institutional business.
“I look forward to working with a very talented team of experienced colleagues to drive growth strategically and deliver the best outcomes for Franklin Templeton’s broad array of institutional clients and consultants.”
Foley joins Franklin Templeton from Guggenheim Investments, where he headed institutional client group for the Americas and Europe.
Prior to that, he led US pensions group for BlackRock, after leading its US and Canada institutional consultant relations team.
