Franklin Templeton announced the launch of its new Investment Institute, an innovative hub for research and knowledge sharing that will unlock the firm’s competitive advantage as a source of global market insights. Stephen Dover, currently Head of Equities, has been named Chief Market Strategist and Head of the Investment Institute. Terrence Murphy, CEO of ClearBridge Investments, will take on an expanded leadership role as Head of Equities for Franklin Templeton. Dover and Murphy will begin their new roles on February 1, 2021. Both will report to Johnson. Murphy will retain his existing role as CEO at ClearBridge, an autonomous specialist investment organization within Franklin Templeton, as he takes on this expanded role. He will join the Franklin Templeton Executive Committee and will focus on setting strategy and driving organizational growth for the collective Franklin Templeton equities business. Murphy will oversee Franklin Equity, Franklin Mutual Series, Templeton Global Equity and Edinburgh Partners, Franklin Templeton Emerging Markets Equity, and the Local Asset Management Developed Markets Equity teams, which collectively include over 250 investment professionals managing a broad variety of equity strategies for both retail and institutional clients globally. While these teams will continue to maintain their individual investment processes and autonomy, he will facilitate collaboration across the equities business to drive results. This expanded role for Murphy does not change his role as CEO of ClearBridge or its operations or the businesses of any of the other autonomous specialist investment management organizations.