Franklin Templeton has hired Legg Mason’s head of business development for Uruguay and Peru to launch a new office in Chile and strengthen its local distribution efforts.
Santiago-based Gonzalo Ramírez Correa joined Franklin Templeton on January 8 to head up the firm's first office in the Andean region.
He will cover the local wealth management community, local fund firms known as administradoras general de fondos (AGFs), insurance companies and family offices for the $753 billion California-based asset manager.
Confirming his move Ramírez said: ‘Franklin Templeton has decided to have a local presence to be able to tend to those segments and develop new opportunities in the Chilean market.’
He will report to director and country manager of South America excluding Brazil, Sergio Guerrien.
Vision Advisors, which has a distribution agreement with Franklin Templeton, will continue to market the firm's products to the Chilean pension funds.
Ramírez resigned from Legg Mason in the first week of January, where as director of business development he targeted institutional and retail clients in Peru and Uruguay. A spokesperson from the Baltimore-headquartered firm said it was currently looking for a replacement.
‘I was very happy with Legg Mason but this is an opportunity for my professional growt. It’s an upgrade for me and as I previously covered Uruguay and Peru, I can now focus and do more within my own country,’ said Ramírez over his new role.
Prior to joining Legg Mason in 2015, Ramírez worked at Thomson Reuters for nearly two years. He also held a sales position with HMC Capital Management and was a client portfolio manager for AFP Capital, when it was owned by ING.