Emerging markets specialist Carlos Hardenberg is to leave Franklin Templeton in March, the investment company has announced.
Hardenberg’s departure marks the latest senior change within the US asset manager’s emerging markets team, with veteran Mark Mobius having completed his last day with the firm on January 31.
This will see Chetan Sehgal named as the sole lead on the Templeton Emerging Markets Investment Trust. He had worked closely with both Mobius and Hardenberg on this UK-domiciled fund.
Hardenberg, who first joined the firm in 2002, will work with Seghal on a transition period before his eventual departure at the end of March.
Franklin Templeton first started introducing management changes within its EM unit in early 2016 with Stephen Dover named CIO of the Templeton Emerging Markets Group. This was further changed in May of last year when Mobius ceded control of several strategies.
This week Franklin Templeton announced that sector stalwart Manraj Sekhon was joining the firm as chief investment officer for emerging markets equity, reporting to Dover.
Further new roles have now come to light with senior leadership set to be organised by strategy type, with directors overseeing global emerging markets, Asia, frontier & MENA.
These key individuals 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.
In addition all funds previously co-run by Hardenberg and Sehgal will become sole responsibility of Seghal, which covers the Templeton Emerging Markets, Templeton Global Emerging Markets and Templeton BRIC funds.