INDUSTRY NEWS: FRANKLIN TEMPLETON FUND MANAGEMENT LIMITED APPOINTS THREE INDEPENDENT BOARD DIRECTORS
Franklin Templeton Fund Management Limited has today announced that it has appointed three independent non-executive directors to its board, more than the minimum requirement of two iNEDs. This is another example of UK fund managers supporting the FCA’s initiative to deliver greater independence, transparency and value through board governance.
More details of Franklin Templeton’s announcement is below and you can watch one of their new iNEDs, Henrietta Jowitt, discussing the value that independent directors can bring to fund boards in a recent video filmed with Fund Boards Council.
Franklin Templeton Fund Management Limited Appoints Three Independent Board Directors
London, 5 June 2019 – Franklin Templeton Fund Management Limited (FTFML) announces today the appointment of three independent non-executive directors (iNEDs) to its board.
In newly-created roles, Henrietta Jowitt, Antony John and David Brigstocke will join the FTFML board, subject to FCA approval. Their appointments fulfil the FCA requirement of appointing a minimum of two independent non-executive directors (iNEDs) to the boards of authorised fund management companies by September 2019, as anticipated by the FCA Asset Management Market Study.
The three iNEDs will join five executive directors on the board, which is chaired by Martyn Gilbey, UK CEO of FTFML. Complementing the executive investment expertise on the board, the new iNEDs will use their extensive experiences to contribute to key areas of the business.
Commenting on the appointments, Martyn Gilbey said, “We are delighted to appoint three highly experienced directors to our board. Henrietta, Antony and David bring complementary skill sets covering core business areas, which will be instrumental in meeting our regulatory requirement and continuing to fulfil our fiduciary duty to our clients as we evolve our offering to deliver solutions which are aligned with the needs of investors.”
“By appointing three new iNEDs to our board, we have chosen to go beyond the minimum requirements of the regulator in the Asset Management Market Study. As asset managers continue to come under scrutiny to demonstrate value for money to the industry, we believe that a more diverse range of opinions and decision-makers is crucial to create better outcomes for investors over the long term,” added Martyn.
Biographies of Franklin Templeton Fund Management Limited iNEDs
David Brigstocke worked at JP Morgan Asset Management for 14 years, where he served as global Chief Financial Officer and Chief Administrative Officer, based in New York (2002 – 2014), and most recently as Chairman of JP Morgan International Bank based in London. Since leaving JP Morgan in 2016, he has worked in a number of consulting roles, in London and New York.
Antony John is currently one of four principals of Ilex Associates, a specialist asset management advisory boutique. He previously held roles across a number of asset management and investment companies, including as CEO of The ECU Group plc, CEO of FundQuest, and Executive Vice President at Lombard Odier.
Henrietta Jowitt is the Deputy Director General at the Confederation of British Industry (CBI), leading the Commercial team, and serves on its Executive Committee. Henrietta has 30 years’ experience in developing and implementing business, marketing and general management strategies, including for Schroders Plc, Advent International, and Cushman & Wakefield.