SAN MATEO, Calif., Jan. 24, 2017 (GLOBE NEWSWIRE) -- Franklin Templeton Investments today announced the appointment of Jacob Armstrong as Head of Insurance Variable Annuity (VA) Business, as the firm expands its resources to continue to best address the US insurance marketplace. Additionally, Shannon McVeigh has joined as vice president, insurance VA business.
“Having served the insurance VA market for more than two decades, Franklin Templeton is bringing aboard new talent to support growth in this channel,” said Costas Komodromos, Head of Financial Institutions Group for Franklin Templeton Investments. “We are excited about the expertise and enthusiasm that Jacob and Shannon are bringing to the team.”
In leading the insurance VA business, Armstrong oversees strategy, product development, marketing, business development and relationship management. McVeigh is focused on deepening the firm's existing client relationships and pursuing growth opportunities with new clients.
“As client needs evolve, we are working to complement the time-tested strategies from our experienced investment management teams by developing new products, including multi-asset solutions tailored to meet desired outcomes,” said Armstrong. “We are also committed to continuing to provide the exemplary service that is vital to our clients in the insurance marketplace.”
Prior to returning to Franklin Templeton in early 2016, Armstrong held a number of senior positions within insurance and sub-advisory asset management at J.P. Morgan Asset Management and Ivy Funds. He has 16 years of investment industry experience. McVeigh joined Franklin Templeton from J.P. Morgan Asset Management where she was a vice president in the subadvisory/insurance group.
About Franklin Templeton Investments
Franklin Templeton Distributors, Inc., is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE:BEN), a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California-based company has 70 years of investment experience and approximately $720 billion in assets under management as of December 31, 2016.
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