Franklin Resources

CEO Jennifer M. Johnson (since 2020) and Executive Chairman Gregory E. Johnson are third‑generation leaders of the founding family. Insider alignment is meaningful: as of December 9, 2024, Rupert H. Johnson, Jr. beneficially owned about 19.9% of shares, with additional significant ownership by Gregory and Jennifer Johnson.

We view continuity, long‑term orientation, and willingness to evolve the platform favorably. The Western Asset episode underscores the need for strong risk and compliance oversight across affiliates, which management has been addressing.