6 unchanged sentences
Set forth below are the name, age, present title, and certain other information for each of our executive officers as of the filing date of this Annual Report.
−Removed: Each executive officer is appointed by our board of directors and holds his or her office until the earlier of his or her death, resignation, retirement, disqualification or removal.
+Added: Generally, each executive officer is appointed by our board of directors and holds his or her office until the earlier of his or her death, resignation, retirement, disqualification or removal.
President of Franklin since December 2016, and Chief Executive Officer and director of Franklin since February 2020;
10 unchanged sentences
officer, director and/or trustee of certain funds registered as investment companies managed or advised by subsidiaries of Franklin.
+Added: Executive Vice President and General Counsel of Franklin since May 2022 and Corporate Secretary since July 2021, and oversaw global regulatory compliance of Franklin as Deputy General Counsel from August 2020 to May 2022;
+Added: officer and/or director of certain subsidiaries of Franklin.
+Added: Formerly, General Counsel and Executive Vice President of Legg Mason, Inc.
+Added: from 2013 and Secretary from 2008, until its acquisition by Franklin Templeton in July 2020;
+Added: joined Legg Mason as Associate General Counsel in 1998, serving as Corporate General Counsel and Deputy General Counsel.
+Added: Formerly, served as a Corporate Associate at Shearman & Sterling, a law firm, in New York from 1993 to 1998.
+Added: Executive officer of Franklin since October 2022;
+Added: Chairman since 2014 and Chief Executive Officer and President since 2012 of ClearBridge Investments, LLC, a subsidiary of Franklin;
+Added: officer and/or director of certain other subsidiaries of Franklin.
+Added: Formerly, Chief Operating Officer and Chief Financial Officer of ClearBridge from 2006 to 2011, Chief Financial Officer of Citigroup Asset Management (a financial services firm) from 2005 to 2006 and Director of Planning from 2000 to 2005;
+Added: and business Controller for various product lines at Citigroup’s Corporate and Investment Bank from 1997 to 2000.
Matthew Nicholls
−Removed: Executive Vice President and Chief Financial Officer of Franklin since May 2019;
+Added: Executive Vice President and Chief Financial Officer of Franklin since May 2019 and Chief Operating Officer since April 2022;
officer and/or director of certain subsidiaries of Franklin.
1 unchanged sentence
(a financial services firm) from 1995 to May 2019, as Managing Director, Global Head of Financial Institutions, Corporate Banking, and Global Head of Asset Management, Corporate and Investment Banking, from 2017 to May 2019, as Managing Director, Co-Head, Financial Institutions Corporate and Investment Banking, North America, and Global Head of Asset Management, Corporate and Investment Banking, from 2014 to 2017, as Managing Director, Co-Head, North America, Financial Institutions Corporate and Investment Banking from 2011 to 2014, as Managing Director and Co-Head, North America, Financial Institutions Corporate Banking from 2007 to 2011, and as Managing Director and Co-Head of Asset Management Banking from 2006 to 2007.
−Removed: Executive Vice President of Franklin since April 2019, formerly, Senior Vice President from June 2018 to April 2019;
−Removed: officer and/or director of certain subsidiaries of Franklin, including as Manager of Brandywine Global Investment Management, LLC and Director of Clarion Partners Holdings LLC, ClearBridge Investments, LLC and Western Asset Management Company, LLC since August 2020;
−Removed: as well as Executive Vice President of Franklin Templeton Institutional, LLC since April 2009, President and director of Templeton Institutional, Inc.
−Removed: since September 2009, and President since February 2017 and director since December 2016 of Templeton Worldwide, Inc.
Executive Vice President, Technology and Operations, of Franklin since October 2021;
7 unchanged sentences
officer and/or director of certain other subsidiaries of Franklin.
−Removed: Executive Vice President and General Counsel of Franklin since August 2005;
−Removed: formerly, a partner at Shearman & Sterling LLP (a law firm) from March 2004 to July 2005 and General Counsel for the Investment Company Institute (a trade group for the U.S.
−Removed: fund industry) from September 1997 through March 2004;
−Removed: officer and/or director of certain subsidiaries of Franklin;
−Removed: officer of certain funds registered as investment companies managed or advised by subsidiaries of Franklin.
Family Relationships
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.