Allows Franklin Templeton to Deliver an
Enhanced Experience to Its Clients
Leverages FIS’ Deep Expertise in Transfer
Agency Services and Experience as a Global Fintech Provider
Franklin Resources, Inc. [NYSE: BEN], a global investment
management organization operating as Franklin Templeton, and
financial technology leader FIS® [NYSE: FIS] today announced that
FIS will assume operation of Franklin Templeton’s global transfer
agent (TA) function as a sub-agent or delegate, depending on the
jurisdiction. The combination of top technology, built by both
companies, will form a truly unique TA global offering that will
deliver an enhanced client service experience to Franklin Templeton
fund shareholders and financial professionals. All Franklin
Templeton transfer agent employees affected by this change will be
given job opportunities. Most will have the opportunity to work
directly for FIS, and others will remain at Franklin Templeton as
part of a redesigned team. This will provide a seamless servicing
transition for clients. For FIS, this partnership aligns with its
focus on expanding its Business Process as a Service (BPaaS)
offerings, as well as accelerating its reach into new markets
across Canada, Europe and Asia Pacific.
“We’re pleased to be partnering with FIS, which will enable us
to take our service delivery model to the next level,” said Alok
Sethi, Executive Vice President of Technology and Operations at
Franklin Templeton. “As with all of our decisions, the needs of our
customers are always at the forefront, and we expect this change
will best support their future servicing needs. A contributing
factor to this decision was our acquisition of Legg Mason last
year. We have made it a priority to move the combined firm to a
single transfer agent platform, which will allow financial
professionals and fund shareholders to purchase and exchange all of
our funds with ease. We are excited to bring the benefits of this
transaction to our clients through a phased transition across
investment strategies and geographies over the next year to ensure
a seamless experience.”
This agreement will allow Franklin Templeton, which manages
$1.56 trillion in assets globally, to continue to focus on its core
business of investment management to help its clients achieve their
most important financial goals. For FIS, a global fintech provider
with deep experience in U.S. TA services, it will allow the company
to broaden the transfer agency services it provides to investment
managers and asset servicers, including investor servicing and
record keeping across multiple product types and jurisdictions. In
connection with the transaction, Franklin Templeton will transfer
the rights to certain aspects of its intellectual property to FIS,
including solutions supporting the ability to provide
multi-jurisdictional international transfer agency services and 529
college saving plan functionality.
Nasser Khodri, Head of Capital Markets at FIS, said, “By
partnering with FIS, Franklin Templeton will be able to transition
its transfer agency services to a managed solution to realize key
servicing enhancements and operational efficiencies, while
minimizing its enterprise risk. With the additional capabilities
FIS has acquired as part of this partnership, the asset management
and servicing community now has a modern, technology driven choice
for global transfer agency services, backed by the commitment and
stability of FIS. We look forward to welcoming the Franklin
Templeton team members who will join FIS as an essential part of
our business.”
Under the terms of the agreement, Franklin Templeton will remain
the named transfer agent or central administrator globally and will
oversee FIS in the provision of its services as its sub-agent or
delegate, depending on the local jurisdiction. As part of this
strategic partnership, approximately 1,450 Franklin Templeton
employees across Asia Pacific, Canada, Europe, and the U.S. will be
given the opportunity to join FIS.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization with subsidiaries operating as Franklin
Templeton and serving clients in over 165 countries. Franklin
Templeton’s mission is to help clients achieve better outcomes
through investment management expertise, wealth management and
technology solutions. Through its specialist investment managers,
the company brings extensive capabilities in equity, fixed income,
multi-asset solutions and alternatives. With offices in more than
30 countries and approximately 1,300 investment professionals, the
California-based company has over 70 years of investment experience
and over $1.5 trillion in assets under management as of October 31,
2021. For more information, please visit franklintempleton.com and
follow us on LinkedIn, Twitter and Facebook.
Forward-Looking Statements
Statements in this press release that are not historical facts
are “forward-looking statements” within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. When used in this
press release, words or phrases generally written in the future
tense and/or preceded by words such as “will,” “may,” “could,”
“expect,” “believe,” “anticipate,” “intend,” “plan,” “seek,”
“estimate,” “preliminary” or other similar words are
forward-looking statements.
Forward-looking statements involve a number of known and unknown
risks, uncertainties and other important factors, some of which are
discussed in the following sentence, that could cause actual
results and outcomes to differ materially from any future results
or outcomes expressed or implied by such forward-looking
statements.
For a detailed discussion of other risk factors, including
important factors that may affect Franklin’s business future
operating results please refer to the risks, uncertainties and
factors described in Franklin’s recent filings with the U.S.
Securities and Exchange Commission (“SEC”), including, without
limitation, Franklin’s most recent Annual Report on Form 10-K and
subsequent periodic and current reports.
Any forward-looking statement made in this press release speaks
only as of the date on which it is made. Factors or events that
could cause actual results to differ may emerge from time to time,
and it is not possible for us to predict all of them. Franklin
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211116005972/en/
Franklin Resources, Inc.
Corporate Communications: Matt Walsh, (650) 312-2245,
matthew.walsh@franklintempleton.com
Investor Relations: Selene Oh, (650) 312-4091,
selene.oh@franklintempleton.com
franklinresources.com
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