Franklin Templeton has tapped current head of equities Stephen Dover to lead a new unit called the Franklin Templeton Investment Institute.
Dover has been named chief market strategist and head of the Investment Institute, which Franklin said it has formed to bring together its research capabilities and investment expertise.
‘The ultimate mission of the Investment Institute is to provide research and data-driven insights for our clients to help them navigate the financial markets, armed with the power of our diverse investment expertise,’ Dover said.
Dover will be replaced as head of equities by ClearBridge CEO Terrence Murphy, who will take up the position in addition to his current job.
As a result of his expanded role, Murphy will oversee the Franklin Equity, Franklin Mutual Series, Templeton Global Equity, and Franklin Templeton Emerging Markets Equity teams, among others. These groups include more than 250 investment professionals. He will also join the company’s executive committee.
Murphy and Dover will take up their new roles on February 1 and report to Franklin CEO Jenny Johnson.
In 2016, Dover succeeded Mark Mobius at the helm of Franklin Templeton’s emerging market equity efforts. He was then promoted to lead all equities in May 2017. Murphy joined Franklin as part of the firm’s acquisition of Legg Mason in February 2020.