New York-listed Franklin Templeton, which in turn had $753 billion under management as of December, will welcome Edinburgh's chief executive and co-founder Sandy Nairn back into its fold.
Nairn was employed by the firm for more than a decade, and worked alongside the legendary investor Sir John Templeton. "[Nairn] brings a tremendous amount of leadership experience and expertise in managing global and international equities, an area that continues to be of strong interest to our clients around the world," said Jenny Johnson, chief executive of Franklin Templeton's parent Franklin Resources.
Based in the Scottish capital, with an office in London and two in the US, Edinburgh manages two London-listed investment trusts and offers fund management services to a range of institutional clients. It has 12 investment professionals as opposed to Franklin Templeton's 650 across all its strategies.
Nairn will become chairman of the Templeton Global Equity Group, while remaining an investment partner and chief executive of Edinburgh...