Western Asset Management (WAM), a subsidiary of Franklin Resources, Inc., is experiencing continued client and staff exits. These departures are occurring as former Co-Chief Investment Officer Ken Leech faces ongoing court proceedings related to fraud charges.
The sustained loss of clients and personnel underscores the severe and prolonged impact of the legal issues on WAM's business operations and stability. This trend can further diminish the subsidiary's assets under management and its capacity to generate revenue for Franklin Templeton.
The challenges at WAM highlight the broader reputational and operational difficulties Franklin Resources is navigating. The firm is working to mitigate these impacts while the legal situation surrounding its former executive unfolds.
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