Franklin Templeton institutional head retires

Tom Duffy passes the baton to Wayne Shum.

Thomas Duffy, executive vice president for Franklin Templeton's institutional business in the Asia-Pacific region, is retiring after 17 years of service. Wayne Shum, who joined the firm last year from Mercer Investment Consulting, is assuming responsibility for the Asia business, ex-Japan, ex-Australia.

Duffy arrived in Hong Kong in 1990 to establish an office for New York-based Fiduciary Trust, a fund manager specializing in growth-oriented equities and global fixed income. He oversaw the Asian business through the boom years of the 1990s, the rise of many new retirement schemes and pension funds and the beginning of international investing for most Asian organizations.

In 2002, Fiduciary was acquired by...

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