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Monday, March 02, 2009

Franklin Templeton Investments appoints Vivek Kudva as MD in India and CEEMEA

Harshendu Bindal will take over as President of Indian asset management business

Franklin Templeton Investments announced senior management appointments in India and CEEMEA (Central and Eastern Europe, Middle East and Africa).

Vivek Kudva has been appointed as Managing Director, India, and CEEMEA with effect from 1 March 2009. Kudva will be responsible for providing strategic direction and leadership to the firm's businesses in CEEMEA as well as India. Prior to taking on this new role, Kudva was designated as President, India for Franklin Templeton Investments. Before joining the firm in 2006, Kudva has 20 years of experience in the banking industry. Kudva holds an engineering degree from IIT Delhi and an MBA from IIM Ahmedabad.

Harshendu Bindal will take over as President of the Indian asset management business effective 1 April 2009. In his new task, Bindal will focus on successfully positioning the Indian business for growth. Prior to taking on this new role, Bindal served as Senior Director of CEEMEA for Franklin Templeton Investments. He has spent the last 12 years with the firm and has been very successful in establishing the company's global footprint in the CEEMEA region. Bindal is a Chartered Financial Analyst (CFA) and holds an engineering degree as well as a master's degree in financial management (M.F.M.) from the University of Mumbai.

Commenting on the appointments, Jed Plafker, Executive Managing Director of Franklin Templeton's International Advisory Services, said, “Franklin Templeton is excited about the growth opportunities for the firm in international markets, especially in India and CEEMEA. We believe that these changes will strengthen our management team to ensure we are well positioned to build on the excellent franchise that we have created over the years.”

“Notwithstanding the challenging global environment, strong emerging market economies such as India and those in the CEEMEA region have the potential to grow at a relatively faster pace than their developed counterparts. We have already established a strong presence in more than 30 countries in the region with retail and institutional offerings to more than two million investors. Our investment management groups offer truly distinct areas of expertise and our diversified investment solutions offer a wide choice to investors, enabling us to continue building the right platform for sustainable growth through market cycles,” said Kudva.

“India continues to be a very exciting market with strong fundamentals, and I look forward to focusing on such a dynamic country,” Bindal added. “We also believe India will be one of the first countries to recover from the global economic slowdown with strong prospects over the medium- to long-term.

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