Franklin Templeton announced the launch of its new Investment Institute, a hub for research and knowledge sharing that is hoped will unlock the firm’s competitive advantage as a source of global market insights.

In other news at the firm which recently acquired Legg Mason, Stephen Dover, currently head of equities, has been named chief market strategist and head of the aforementioned investment institute. Terrence Murphy, CEO of ClearBridge Investments, will take on an expanded leadership role as head of equities for Franklin Templeton.

“With these appointments and the launch of the Investment Institute, we are doubling down on what sets our firm apart—unmatched insight and research from experts on the ground in over 70 offices around the globe,” said Jenny Johnson, President and CEO of Franklin Templeton. “In this time of significant uncertainty, we are uniquely positioned to help clients find signal amid the noise. Whatever the issue, whatever the region, we will marshal diverse perspectives and proprietary analysis to best serve our clients. I am thrilled to have Stephen Dover leading this new effort.”

She continued, “Terrence Murphy has done a phenomenal job at ClearBridge, and I know he will be very effective in this expanded role. More broadly, this appointment demonstrates our commitment to propelling the business forward by harnessing the great talent across our organization.”

Mr Dover and Mr Murphy will begin their new roles on February 1, 2021. Both will report to Ms Johnson.