Franklin Templeton Establishes Own Campus in Hyderabad
|From:||Franklin Resources, Inc.|
Hyderabad, January 23, 2007: Franklin Templeton Investments, a leading investment management company specializing in mutual funds in the U.S., with a presence in 29 countries, including India, today announced the launch of its new campus at Gachibowli in Hyderabad. The 380,000 square-foot facility, built with an investment of over US $40 million, will serve principally as a support center to the operations and technology groups in Franklin Templeton’s offices worldwide. The campus is expected to accommodate about 1,800 employees and will be equipped with amenities including a gym, cafeteria and recreation area for the benefit of its staff.
Speaking at a press conference in Hyderabad today Mr. Greg Johnson, president and chief executive officer of Franklin Resources Inc. said, “The opening of the Hyderabad campus is an important milestone for Franklin Templeton and a key strategic initiative to deploy our resources effectively as we grow our business globally. Our investment in the new campus underscores our belief in India’s potential.”
Franklin Templeton has two entities in India – i) an asset management company, headquartered in Mumbai, known as Franklin Templeton Asset Management (India) Private Limited, which manages one of the most comprehensive ranges of mutual funds catering to varied investor requirements and - ii) a services company, under the name Franklin Templeton International Services (India) Private Limited (FTISPL), which is based in Hyderabad and engages in providing support services to the operations and technology groups of Franklin Templeton located worldwide.
Mr. Vijay Advani, executive vice president of Global Advisor Services at Franklin Templeton said, “The launch of this new campus demonstrates our long-term commitment to India and is a reflection of our confidence in India’s talented workforce. We are very delighted to grow our presence in Hyderabad.”
FTISPL started its journey in Hyderabad with a Build, Operate and Transfer (BOT) arrangement with Ness Technologies (formerly Innova Solutions) of Hyderabad in 2003. Starting with less than 10 employees in 2003, FTISPL now has close to 1,100 staff with a ratio of 65:35 representing operations and technology respectively.
Ms. Jennifer Bolt, Franklin Templeton’s executive vice president of Operations & Technology, said, “The fact that our services company in Hyderabad accounts for nearly 15% of Franklin Templeton’s headcount is an indication of the importance the region holds for us. We are very impressed by the capabilities and the level of enthusiasm and commitment of our staff in India.”
FTISPL provides a range of services including transaction processing, fund accounting, high end data analytics, equity research, software development and testing to Franklin Templeton’s offices in various countries. It currently operates out of two other locations apart from Hyderabad namely, Mumbai and Chennai.
Mr. Alok Sethi, president of FTISPL, who presided over the conference said, “We have invested more than US $40 million of our own funds in the building of this campus and are about to commence the construction of the second phase of our campus - we are committed to India. As an investment management company we are focused on the long term – and similarly offer long-term career opportunities to our staff.”
About Franklin Templeton Investments
Franklin Resources, Inc., is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments is one of the world’s largest financial services companies, with over US$ 552.9 billion in assets under management (as of December 31, 2006), and is based in San Mateo, California USA. The company has 60 years of experience in investment management, with offices in 29 countries and servicing over 17 million shareholder accounts.
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