Global asset managers compete for Korean institutional money as Franklin Templeton Investments appoints an 'institutional expert' [fn Market Watch]

[Financial News] Franklin Templeton Investments, a global asset manager, has tapped Kim In-geun, a seasoned "institutional expert" who has worked at the Bank of Korea (BOK), BlackRock Asset Management and Western Asset Management, as the head of its Korea business. By putting forward a veteran who has dealt with pension funds and insurance companies across the Asia-Pacific region (APAC), the firm is stepping up its push into domestic institutional capital.
According to Franklin Templeton Investments on the 1st, the firm appointed Kim In-geun as president and CEO for Korea. He will lead Franklin Templeton Investment Advisory, the local unit, and oversee the company's business strategy and operations in the country.
Kim has more than 27 years of experience in asset management. He spent six years at Western Asset Management's Singapore unit under Franklin Templeton Investments and previously worked at BlackRock Asset Management and the Bank of Korea (BOK). He has particularly handled institutional client management for public institutions, pension funds, insurance companies and major financial institutions in the APAC region.
In the asset management industry, the appointment is drawing attention as part of Franklin Templeton Investments' efforts to expand its institutional business in Korea. As overseas investment by domestic pension funds, mutual aid associations and insurance companies grows, global asset managers are finding it increasingly important not just to supply products, but also to connect their investment platforms with Korean institutional capital.
An industry source familiar with the matter said, "As Korean institutional investors' overseas investments become more sophisticated, the role of connecting global investment capabilities with domestic institutional demand has become more important." The source added, "Appointing someone who has experience with both public institutions and global asset managers as the Korea chief also fits this trend."
Kim succeeds former CEO Tay Kim, who worked at Franklin Templeton Investments for more than 20 years.
Daniel Gamba, co-president and chief commercial officer at Franklin Templeton Investments, said, "Korea is a strategically important market and a key pillar of our APAC business." He added, "We expect Kim to open a new chapter for our Korea business and strengthen our presence in the country."
Meanwhile, Franklin Templeton Investments was managing about $1.8 trillion in assets as of the end of July this year.


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