Fiduciary Trust Company International Names John M. Dowd as Chief Executive Officer

NEW YORK, NY--(Marketwired - Apr 12, 2016) - Fiduciary Trust Company International, a leading wealth management firm and wholly-owned subsidiary of Franklin Resources, Inc., today announced the appointment of John M. Dowd as chief executive officer and a member of the Board of Directors. Mr. Dowd will be based in New York where he will direct Fiduciary Trust's business and long-term growth strategy.

"John is an outstanding leader and veteran in the wealth management industry," said Gail Cohen, chair and general trust counsel of Fiduciary Trust. "His significant experience and leadership acumen aligns with Fiduciary Trust's core values and complements our firm's client-focused culture. Our clients and firm will benefit from his impressive track record and deep understanding of the complex situations our clients face."

Mr. Dowd, 52, brings to Fiduciary Trust almost 30 years of experience in wealth management. He previously served as executive vice president and senior managing director for Wells Fargo Wealth Management, where he oversaw the Northeast region, focusing on investment management, trust and estate, financial planning, custom credit, brokerage and insurance services. Prior to joining Wells Fargo, he was the managing executive of BNY Mellon's wealth management business for New York, New Jersey and Connecticut. He also served as head of wealth management and chief trust officer for Bank of New York and was chairman of the Bank's trust and investment committee. 

A graduate of Guilford College in Greensboro, North Carolina, Mr. Dowd earned his M.B.A. from Columbia University. He is a past chairman of the trust and investments section of the New York State Banker's Association and has served on the boards of Junior Achievement of New Jersey and the Senior Care and Activities Center. He is currently a trustee of the Montclair Art Museum in Montclair, New Jersey.

Mr. Dowd will be supported by a long-tenured team of senior leaders, all of whom have more than two decades of experience in the industry. In addition to Ms. Cohen, the senior management team includes Larry Sternkopf, president and chief operating officer; Ronald Sanchez, chief investment officer; Carin Leong Pai, director, Equity Management; Wayne Sprague, director, Strategic Advisory Services; Warwick Carter, national head, Trusts and Estates; and Elizabeth Hughes, chief compliance officer.

Ms. Cohen added: "Over the past year, Fiduciary Trust has achieved record levels of new business and wealth management assets. We are confident that John's addition to the firm will build on this strong foundation. We are thrilled to welcome him to the firm."

About Fiduciary Trust

Fiduciary Trust Company International, a global investment management firm, has served individuals, families, endowments and foundations since 1931. With over $75 billion in assets under administration and management as of December 31, 2015, the firm specializes in strategic wealth planning, investment management and trust and estate services, as well as tax and custody services. The firm and its subsidiaries maintain offices in New York, Coral Gables, FL, Boca Raton, FL, St. Petersburg, FL, Los Angeles, San Mateo, CA, Washington, D.C., Wilmington, DE, and London. For more information please visit fiduciarytrust.com.

About Franklin Resources

Franklin Resources, Inc. (NYSE: BEN) is 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 180 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 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California-based company has more than 65 years of investment experience and over $742 billion in assets under management as of March 31, 2016. For more information, please visit franklintempleton.com.

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