Franklin Templeton has named Mercer’s Rich Nuzum as Head of OCIO. Starting later this month, Nuzum will lead the expansion of the OCIO business, which is part of Franklin Templeton Investment Solutions. He will remain in New York and report directly to FTIS Head Adam Petryk.
The appointment of Nuzum is part of FTIS’ strategy to further develop its OCIO business, which Franklin Templeton President and CEO Jenny Johnson described in a news release as “a key strategic priority as asset owners seek streamlined operations, top-tier investment expertise, and cost efficiency.”
“Rich’s extensive global, solutions-oriented experience will be instrumental in advancing our OCIO offering,” Johnson added. “His leadership will help us deliver integrated, personalized advice that go beyond individual products.”
Nuzum spent more than three decades providing investment consulting advice to institutional investors at Mercer. A spokesperson from Mercer declined to comment.
FTIS has a team of more than 100 investment professionals managing $93 billion in assets.
This comes as more large investors outsource, with Nuzum even recently noting that only 5 percent still manage investments entirely in-house, “with the most complex asset classes often being handled by outside teams.” He added that Mercer had seen “a significant appetite among large asset owners for outsourcing investment management” as investing becomes increasingly complex.
