Franklin to Integrate Wamco Amid SEC Investigation & Heavy Outflows [Yahoo! Finance]
Franklin Resources, Inc. (BEN)
Last franklin resources, inc. earnings: 4/30 08:30 am
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Source: Yahoo! Finance
This decision follows an ongoing investigation by the U.S. Securities and Exchange Commission (SEC) into Ken Leech, the former lead bond manager at Wamco. In August 2024, BEN replaced Ken Leech, who was serving as the co-chief investment officer (CIO) of its Wamco unit. This was done after the CIO had taken a leave of absence after getting a Wells Notice from the SEC. Franklin's CEO Jenny Johnson and Wamco CEO Jim Hirschmann informed the staff that the parent company will be merging Wamco's middle office into its larger organization. According to sources familiar with the matter, there would be job cuts in Wamco as part of the integration process. On the fourth-quarter earnings call on Nov. 4, 2024, Johnson noted that BEN is working with Wamco's management team “to explore ways to assist Western Asset, including adjustments to economic arrangements, operational and revenue synergies.” Wamco became part of Franklin through the latter's acquisition of Legg Mason in 2020. At that
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News
- BEN INVESTOR NEWS: Franklin Resources, Inc. Investors that Suffered Losses are Encouraged to Contact RLF About Ongoing Investigation into the Company (NYSE: BEN)GlobeNewswire
- Digital Asset Allocations Continue to Grow in Client Portfolios, DACFP Survey Finds [Yahoo! Finance]Yahoo! Finance
- Digital Asset Allocations Continue to Grow in Client Portfolios, DACFP Survey FindsPR Newswire
- Franklin Templeton Fund Adviser, LLC Announces Distributions for the Months of December 2024, January and February 2025 [Yahoo! Finance]Yahoo! Finance
- Rosen Law Firm Encourages Franklin Resources, Inc. Investors to Inquire About Securities Class Action Investigation - BENPR Newswire
BEN
Earnings
- 11/4/24 - Miss
BEN
Sec Filings
- 11/14/24 - Form 4
- 11/12/24 - Form 10-K
- 11/12/24 - Form 4
- BEN's page on the SEC website