Franklin Templeton Investments has announced a raft of changes to its Fixed Income Group (FTFIG) and Templeton Global Macro (TGM) strategies.
Dr. Sonal Desai has been confirmed as FTFIG's CIO, replacing Chris Molumphy who retires at the end of the year after 30 years with the firm.
In the new role, she will be responsible for the firm's corporate credit, emerging markets debt, bank loan, global aggregate, securitised, money market, multi-sector, municipal and local fixed income teams, which manage $157bn in assets.
Desai has also been named as portfolio manager on a range of FTFIG strategies focusing on multi-sector and global sovereign exposure, including the $5.4bn Franklin Strategic Income fund, effective at the year end.
She will no longer manage a number of TGM strategies, which include the $14.6bn Templeton Global Bond fund, the $9.6bn Emerging Markets Bond fund and the Emerging Markets Local Currency Bond fund, which was launched in February.
Dr. Calvin Ho will co-run the strategies alongside TGM CIO Michael Hasenstab once he takes over Desai's role as director of research, effective 31 December, which was announced in September.
Ho has worked at Franklin Templeton for 13 years specialising in global macroeconomic analysis, providing portfolio management input and serving as lead research analyst on FX modelling.
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