Franklin Templeton, the US asset investment giant with some $747.1 billion in assets under management, has combined its Europe and India businesses under the aegis of a former Indian banking executive, following a strategic review of its international operations.

The firm confirmed in a statement on June 3 that Vivek Kudva had stepped up to become the new managing director for Europe, the Middle East and Africa, as well as India on April 15. It follows the decision to join its Europe business with its businesses in central and eastern Europe, the Middle East and Africa, as well as India.