Franklin Templeton Investments has bolstered its Australian subsidiary with two new bond manager hires, the company has announced.
New recruits Chris Siniakov and Andrew Canobi were both formerly with Deutsche Asset & Wealth Management.
Siniakov joins as a managing director for fixed income and was formerly head of Asia Pacific fixed income at DeAWM before stepping down in February.
Meanwhile, Canobi, who was a senior portfolio manager and head of DeAWM’s Australian investment team, joins Franklin Templeton as a director within its local investment team.
The pair will be charged with developing a range of locally-focused absolute return fixed income strategies. They will primarily focus on macro-driven strategies offering real yields and liquidity.
Stephen Dover, managing director and international chief investment officer at Franklin Templeton, said the new appointments would help the US asset manager further its presence in the Australian market.
‘There is growing recognition of the need for strong fixed income capabilities in Australia, and building a strong local presence that draws on the capabilities of a highly regarded global team will enable us to meet this need,’ he said.
Franklin Templeton sought to further its presence in Australia in 2011 with the purchase of equity manager Balanced Equity Management, while the two new hires marks one of the first major steps to establish a local presence in fixed income.