What will the Franklin-Legg Mason merger mean in Asia?
The fund industry’s latest mega-takeover has big implications for the two firms and for their clients in Asia. AsianInvestor looks at issues that the deal raises.
Franklin Templeton Investments (FTI) yesterday (February 18) announced its purchase of rival US fund house Legg Mason to create a $1.5 trillion asset management giant, as the investment industry’s consolidation trend continues.
Both firms have substantial presences in Asia, incorporating both investment and sales staff, and the deal looks set to have big implications for their businesses, headcounts and client bases in the region (see also box below, 'The merger in numbers').
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