$1.6T Franklin Templeton Appoints Former KKR Exec to Global COO of Wealth Management Alts

Franklin Templeton has appointed George Stephan to the newly created position of Global COO of wealth management alternatives.

Stephan manages alternative investment product innovation and investor services, as well as business growth, management, and operations. He will drive the overall distribution strategy, as well as provide advisory education for the alternative investments business in the private wealth channel. He will report to Adam Spector, Franklin Templeton’s EVP and head of global distribution.

Stephan previously spent five years at KKR, as head of strategy and business development for the firm’s global client solutions business. Before that, he was COO and head of investor relations for KKR’s global wealth solutions business in the Americas. Prior to joining KKR, Stephan spent nine years at Morgan Stanley’s wealth management division.

Franklin Templeton is now one of the largest managers in alternative assets globally, amounting to approximately 16% ($264 billion) of the firm’s $1.65 trillion in assets under management as of June 30, 2024.