Franklin Templeton names new Southeast Asia head in global reshuffle

US fund house Franklin Templeton has named Adam Quaife as head of Southeast Asia to replace Stephen Grundlingh, who will move to the firm’s headquarters in San Mateo, California as channel head of institutional strategy, a newly created global role. The moves are part of a management reorganisation.

Quaife will be responsible for leading Franklin Templeton’s retail and institutional business from Singapore. Previously he ran the retail and institutional businesses in central and Eastern Europe and the Middle East. He will relocate from Dubai to Singapore and work with Grundlingh during a transition period over the next few months.

Quaife had already spent several years with Franklin Templeton in Asia, having set up the Australian retail operation and Sydney office in 2004. He then took over as sales director and head of institutional there in 2008. He had joined the firm’s institutional business in London in 2002, before which he held business development positions at Axa and Colonial First State.

In his new post, Grundlingh will work alongside Harshendu Bindal, who was named in June as channel head of retail strategy, which includes oversight of the global financial institutions team.

Bindal was previously president of Franklin Templeton’s India business, and was replaced by Sanjay Sapre. Sapre was previously senior vice president of global transfer agency customer operations and customer service for Asia Pacific. He has been with the firm for 16 years.

Bindal and Grundlingh will be responsible for strategic planning for their respective channels and report to Jed Plafker, president of Franklin Templeton International.  

The two new channel roles are designed to address the increasing complexity and interconnectedness of the firm’s global business, the firm said in a statement.

Grundlingh has spent a decade in Singapore, having moved there in April 2006 from Johannesburg, South Africa, where he was responsible for Franklin Templeton’s African business. He joined the firm in 1996.

Moreover, as part of the leadership restructuring, the geographic leadership roles have been organised into three regions.

Vivek Kudva retains the role he assumed earlier this year as Mumbai-based head of Europe, the Middle East and Africa (Emea) and India, at the same time as Bindal moved from India to take on the retail channel head role in California.

Andrew Ashton has been appointed head of Americas (ex-US); he previously ran the global financial institutions group.

Mark Browning will continue his role as head of Asia Pacific.

All three geographic leaders report to Plafker.