Franklin Templeton has hired 25-year industry veteran Drew Carrington as Senior VP and head of its Defined Contribution – Institutional group based in San Mateo, CA. Carrington will report to Scott Lee, who leads Franklin Templeton’s team of 15 dedicated U.S. institutional sales and relationship management professionals.
“Plan sponsors are increasingly shifting their focus from traditional defined benefit and defined contribution standalone plans to a more consultative approach in overall asset allocation,” said Lee. “We are leveraging Drew’s extensive expertise in institutional asset management and consulting to augment and complement our current distribution efforts as the marketplace evolves.”
Carrington has a rich history in the DC industry, beginning his career in the financial services industry in 1988. He served as head of the Defined Contribution and Retirement Solutions Group at UBS Global Asset Management, focused on developing retirement approaches for DC plans. Prior to that, as a senior fixed income portfolio manager, he worked closely with UBS’ Asset-Liability Investment Solutions team to design and implement the fixed income and duration overlay portions of asset-liability management strategies. Before joining UBS in 2005, he was a principal at Mercer Investment Consulting, where he worked with both public and private DB and DC clients.
