Emerging markets veteran Mark Mobius will retire from fund management after more than 30 years with Franklin Templeton, Citywire Selector has learned.

In doing so, Mobius steps down from his role as executive chairman of the Templeton Emerging Markets Group. He will formally retire on January 31.

Franklin Templeton has made several steps to plan for Mobius’s departure, which includes several portfolio manager changes over the last few years as part of its succession planning.

The most notable of these changes saw Stephen Dover announced as CIO for the Templeton Emerging Markets Group at the start of 2016.

This was followed by Mobius handing over PM responsibilities for a host of Luxembourg-domiciled funds under his control last June.

In the wake of the changes, Mobius will also formally step down from the UK-domiciled Templeton Emerging Markets Investment Trust. Carlos Hardenberg remains as lead manager and Chetan Sehgal remains as deputy PM on the trust.

Despite these changes Mobius had remained as a key figure within the Templeton Emerging Markets Group. He was involved in the group’s investment processes and participated in research efforts and company visits.

Mobius also served as a key spokesperson articulating the emerging markets story.