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Fund Flash: Franklin reshuffles EM team after senior exit; Wells hires NB quant chief

Fund Flash: Franklin reshuffles EM team after senior exit; Wells hires NB quant chief

Citywire Americas rounds-up the biggest news in the funds and Ucits investment universe as reported by Citywire’s global publications.

Franklin Templeton reshuffles senior EM roles after senior exit 

Emerging markets specialist Carlos Hardenberg is to leave Franklin Templeton in March as the firm announces a new senior line-up.

Hardenberg was a manager on the Templeton Emerging Markets, Templeton Global Emerging Markets, Templeton BRIC, Templeton Frontier Markets, and Templeton Africa.

This also follows the hire of Manraj Sekhon as chief investment officer for emerging markets equity, reporting to head of equities Stephen Dover.

The new appointments will all report directly to Sekhon:

  • Chetan Sehgal will serve as senior managing director and director of portfolio management overseeing global emerging markets (GEM), small cap and Latin America and Eastern Europe strategies. 
  • Sukumar Rajah is also a senior managing director and director of portfolio management overseeing investments across the Asian emerging market equity strategies. 
  • Bassel Khatoun becomes a managing director and director of portfolio management overseeing frontier markets and MENA investment strategies. 
  • And, Tek Khoan Ong, who is already a senior managing director and director of research, continues in his senior leadership role.

Sehgal will become sole manager of the Templeton Emerging Markets, Templeton Global Emerging Markets and Templeton BRIC funds.

Khatoun steps in for Hardenberg as a co-manager on the firm’s Frontier Markets fund, while Ahmed Awny and David Haglund take on the Africa strategy.

Wells Fargo AM hires rival’s quant chief

Wells Fargo Asset Management hired Neuberger Berman’s former head of quantitative investments to serve as its global head of research within the multi-asset solutions team.

Wai Lee, who will join the US group in its New York office this month, was most recently head of quantitative investments and senior portfolio manager for multi-asset and quant strategies at the rival group.

He had also been a named manager on several multi-asset and systematic-focused funds, including the Neuberger Berman Systematic Global Equity fund. 

Eaton Vance raids Europe firm for bonds unit

Eaton Vance expanded its international asset management offering by hiring a five-strong fixed income team based in Frankfurt.

The company hired investor Astrid Vogler, who will lead the team, along with portfolio manager Roman Kostal and three other members formerly with Oechsle International Advisors.

This newly-formed unit will sit within the wider Global Income group, which is co-led by Michael Cirami and Eric Stein.

The team advises $830 million and will continue to be based in Frankfurt. It will advise its legacy client mandates, which have been assumed by Eaton Vance.

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