Franklin Templeton Names Head of DC Sales

Franklin Templeton Investments has named Drew Carrington as senior vice president and head of Defined Contribution (DC), Institutional.

Carrington will be based in the firm’s San Mateo, California, office and will focus on shaping and executing the firm’s sales and service strategy within the growing defined contribution investment-only (DCIO) segment of the U.S. institutional market.

Carrington will report to Scott Lee, head of Institutional – U.S., who leads Franklin Templeton Institutional’s team of 15 dedicated U.S. institutional sales and relationship management professionals. In his new role, Carrington will collaborate with Lee and his colleagues to provide service to existing and prospective institutional clients and identify approaches designed to meet their evolving DC needs.

Carrington began his career in the financial services industry in 1988. He served as head of the Defined Contribution and Retirement Solutions Group at UBS Global Asset Management, focused on developing retirement approaches for DC plans, particularly in the target-date and retirement income categories.  Prior to that, as a senior fixed income portfolio manager, he worked closely with UBS’ Asset-Liability Investment Solutions team to design and implement the fixed income and duration overlay portions of asset-liability management strategies. Before joining UBS in 2005, he was a principal at Mercer Investment Consulting, where he worked with both public and private defined benefit and defined contribution clients.

He holds Chartered Financial Analyst and Chartered Alternative Investment Analyst designations, as well as a Bachelor of Arts from Harvard University.