Share page with AddThis

News

Franklin Templeton outsources global TA to FIS

Outsourcing2Asset manager Franklin Templeton has selected fund services group FIS to assume operation of its global transfer agency (TA) function.

FIS will act as a sub-agent or delegate, depending on the jurisdiction.

According to a company statement, the two companies have jointly developed the technology that will be used for the TA offering.

The arrangement will also see some of Franklin Templeton’s TA staff work directly for FIS while others will remain with the fund manager as part of a redesigned team. The statement adds that “all transfer agent employees affected by this change will be given job opportunities”. Some 1,450 employees across the firm’s global operation will be given the chance to join FIS.

A contributing factor to the decision was Franklin Templeton’s acquisition of Legg Mason last year, said Alok Sethi, executive vice president of technology and operations at Franklin Templeton. “We have made it a priority to move the combined firm to a single transfer agent platform,” he said. 

©2021 fundsTech

Most read features

Roundtable: New age thinking

Our panel of experts discusses the state of innovation in the industry and whether technology and the pandemic have created a once-in-a-generation opportunity to change. Chaired by Nicholas Pratt.

Cryptocurrencies: Solving crypto’s sustainability problem

Cryptocurrencies like bitcoin have a huge carbon footprint but, as Nicholas Pratt discovers, environmentally friendly alternatives exist.

Inside view: Who owns the data?

SteelEye chief executive Matt Smith finds that firms’ increasing use of third parties to store and manage data is creating tricky issues over data ownership.

Proxy voting: Making every vote count

With stewardship more important than ever and digital technology to the fore, surely it is time to solve the problem of proxy voting? Nicholas Pratt investigates.

Interview: Rise of the robo-adviser

FundsTech talks to Nutmeg’s CTO, Matt Gatrell, about the role of technology in its online offering.

Sponsored Profiles

Are you being microserved?

As asset managers grapple with new digital technology, FundsTech talks to Calastone’s Adam Belding about the importance of software architecture and the benefits...

Sponsored profile: A question of trust

AcrobatsAs more firms adopt agile software development practices, Petra Roche of Metrosoft explains why trust is so important in making agility work.

Sponsored feature: Compliance and the case for agility

CheetahFundsTech talks to Janusz Lorenc, CEO of Metrosoft, about asset managers’ approach to compliance risk and the case for agile software development.

Sponsored feature: Outsourced dealing

On_targetFundTech talks to Amundi Services’ Romain Sauvage and Gianluca Minieri about an increased demand for outsourced dealing among fund managers, driven by...