Franklin Resources Inc., the parent company of Franklin Templeton Investments, promoted William Yun to fill the newly created role of executive vice president of alternative strategies.
Mr. Yun will oversee Franklin Templeton's specialized and alternative investment business, which includes local asset management, joint ventures, real estate, funds of funds, and dedicated private equity.
He will oversee the investment and business sides of the company's asset management joint ventures, including those in Vietnam, China, and Dubai. Over the past decade Franklin Resources has established wholly owned asset management units in Brazil, Canada, India, Japan, and Korea.
Mr. Yun is an officer of Franklin Resources. He was the president of Fiduciary Trust Co., which Franklin Templeton bought in 2000.
In 2002 he became the president of Franklin Templeton Institutional, the global business development group that oversees Franklin Templeton's institutional, defined benefit, and investment-only separate account businesses.
Franklin Resources also promoted Vijay Advani to executive vice president of global distribution, with oversight of both retail and institutional distribution. Mr. Advani, who was executive vice president of the retail-focused global adviser services group since 2005, will lead Franklin Templeton's intermediary-based and institutional businesses, including sales and marketing.
The San Mateo, Calif., firm, which announced the promotions last week, had $623 billion of assets under management on May 31.
