Franklin Resources, Inc. ·BEN

Three Co-Presidents sit beneath a non-executive CEO

Financials · Fortune #453 · Hybrid structure · 10K employees · San Mateo, California

5
CEO span
↓ tighter than peers (avg 9)
3.1
Avg span
moderate
3
Max depth
3 levels
5.2 yr
Avg tenure
60%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-09-30 · 10-K
Revenue
$8.8B
Operating income
$604M
Net income
$525M
Total assets
$32.4B
Shares out
521M

Sourced from Franklin Resources, Inc. DEF 14A · filed 2025-12-22 ↗ View on SEC

Interactive org chart

Franklin Resources, Inc. organizational chart

Explore the executive structure, reporting layers, and scenario-ready operating model from public filings.

Open editable chart

Franklin Resources operates with an unusual three–Co-President model under CEO Jennifer Johnson. This page maps the enterprise leadership structure, analyzes reporting depth and span of control, tracks recent executive changes, and compares Franklin’s setup with major asset-management peers.

What to model

Use the chart to test org decisions, not just view reporting lines

Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.

Latest signal Daniel Gamba joined as Co-President and Chief Commercial Officer

Appointed effective October 15, 2025.

Source · See change log

Scenario views in the chart

  • Add Chief AI Officer Create a dedicated Chief AI Officer role to coordinate firmwide AI initiatives currently split across technology and investment teams.
  • Consolidate Co-Presidents Reduce complexity by consolidating the three Co-President roles into a single President/COO.

Atlas work this supports

  • Connect Workday or UKG Get these analytics for YOUR org — tenure, span of control, headcount, automatically from your HRIS.
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  • Plan a Reorg Use this as a starting point. Model scenarios, compare structures, present options to your board.

The people

Who's running this

6 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.

internal

Jennifer M. Johnson

Chief Executive Officer

Executive

6 yr

17 reports

internal

Matthew Nicholls

Co-President, Chief Financial Officer and Chief Operating Officer

Finance & Operations

9 yr

4 reports

Terrence J. Murphy

Co-President and Head of Public Market Investments

Investments

4 yr

4 reports

Daniel Gamba

Co-President and Chief Commercial Officer

Commercial

1 yr

4 reports

internal

Thomas C. Merchant

Executive Vice President and General Counsel

Legal

7 yr

0 reports

internal

Gregory E. Johnson

Executive Chairman

Board

6 yr

0 reports

The pay

Executive compensation

From the most recent DEF 14A Summary Compensation Table. 1 named executive officers disclosed. Bar length scales with total compensation.

Jennifer M. Johnson $16.8M
Base salary
$750K
Bonus
$8.96M
Stock awards
$6.92M
Other
$210K
Fiscal year
FY2025
Source
SEC DEF 14A ↗

The businesses

How Franklin Resources, Inc. divides the work

3 divisions report into the group CEO. Tile size scales with estimated headcount.

Public Market Investments

3K employees

Co-President, Head of Public Market Investments (Terrence J. Murphy)

Manages equity and fixed income strategies across global public markets.

Finance & Operations

2K employees

Co-President, CFO & COO (Matthew Nicholls)

Oversees finance, technology, operations, risk, and corporate functions.

Global Commercial

2K employees

Co-President, Chief Commercial Officer (Daniel Gamba)

Leads global sales, marketing, and product strategy.

The thesis

Why this org is unusual

Three Co-Presidents report directly to CEO Jennifer Johnson, an uncommon structure among large asset managers.

The model separates finance/operations, public markets investing, and global commercial functions, reducing reliance on a single COO. This reflects Franklin Resources’ post-Legg Mason and Putnam integration strategy and its desire to balance scale with specialist autonomy. The Executive Chairman role remains influential but non-operational, preserving family continuity without constraining day-to-day execution.
  • Three Co-Presidents
  • No single standalone COO
  • Executive Chairman retained

The comparison

How Franklin Resources, Inc. stacks up

Compared with peers like BlackRock and T. Rowe Price, Franklin Resources has a broader CEO span and more parallel presidents. BlackRock concentrates power under a COO and CIO, while Franklin distributes authority horizontally. This can improve accountability in a diversified asset manager but increases coordination …

C-suite size

Franklin Resources, Inc.
6
BlackRock
10
T. Rowe Price
8
Invesco
9
State Street Global Advisors
8

Reporting depth

Franklin Resources, Inc.
3 levels
BlackRock
5 levels
T. Rowe Price
4 levels
Invesco
5 levels
State Street Global Advisors
5 levels

Avg C-suite tenure

Franklin Resources, Inc.
5 yr
BlackRock
6 yr
T. Rowe Price
7 yr
Invesco
5 yr
State Street Global Advisors
6 yr

Has COO / Has CAIO

Franklin Resources, Inc. ✓ COO — no CAIO
BlackRock ✓ COO ✓ CAIO
T. Rowe Price ✓ COO — no CAIO
Invesco ✓ COO — no CAIO
State Street Global Advisors ✓ COO ✓ CAIO

Current signals

What changed recently

The most significant change was the creation of a three–Co-President structure with the hiring of Daniel Gamba as Chief Commercial Officer.

  • new
    Daniel Gamba Co-President and Chief Commercial Officer

    Appointed effective October 15, 2025.

    Source
  • promoted
    Matthew Nicholls Co-President

    Named Co-President effective October 15, 2025 while retaining CFO/COO role.

    Source
  • departed
    Adam B. Spector Executive Vice President, Head of Global Distribution

    Resigned as EVP effective October 15, 2025; remains CEO of Fiduciary Trust International.

    Source

Leadership Timeline

Year-over-year executive structure based on SEC proxy and annual filings.

FY2025
DEF 14A filed 2025-12-22
CEO
Jennifer M. Johnson
CEO span
4
C-suite
5
Avg tenure
5.1 yr

Leadership still centered on CEO with CFO/COO prior to Co-President expansion.

Named executive officers (5)
  • Jennifer M. Johnson - CEO since 2020
  • Matthew Nicholls - CFO/COO since 2017
  • Gregory E. Johnson - Executive Chairman since 2020
  • Terrence J. Murphy - Head of Public Markets since 2021
  • Adam B. Spector - EVP since 2019

The board

Board of directors

2 directors. 2 of 2 independent (100%). Source: most recent DEF 14A.

Mariann Byerwalter

Lead Indep. Independent

Chairman, Pacific Mutual Holding Company

Director since 2015 · Age 65

Alexander S. Friedman

Independent

Co-Founder & Co-CEO, Novata Inc.

Director since 2021 · Age 55

The board, organized

Board committees

1 standing committees. Audit and Compensation must be 100% independent under SEC rules; the rest vary.

Audit Committee

100% independent 5 mtgs/yr
  • Mariann Byerwalter
  • Alexander S. Friedman Chair

Frequently Asked Questions

Who is the CEO of Franklin Resources?

Jennifer M. Johnson has served as CEO since February 2020.

What type of organizational structure does Franklin Resources use?

Franklin Resources uses a hybrid enterprise structure with multiple Co-Presidents.

How many direct reports does Franklin Resources's CEO have?

The CEO has five direct reports, including three Co-Presidents.

How has Franklin Resources's leadership changed recently?

In October 2025, the company appointed Daniel Gamba as Co-President and Chief Commercial Officer and added two additional Co-Presidents.

Does Franklin Resources have a COO?

Yes, but the COO role is combined with the CFO position and one of three Co-Presidents.

Sources

  • 8-K Filing, Sep 2025
  • SEC EDGAR: Franklin Resources, Inc. DEF 14A Proxy Statement
  • SEC EDGAR: Franklin Resources, Inc. 10-K Annual Report

Reference

Cite this page

If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.

APA 7th
Creately. (2026). Franklin Resources, Inc. organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/franklin-resources/
MLA 9th
"Franklin Resources, Inc. Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/franklin-resources/. Accessed .
Chicago 17
Creately. "Franklin Resources, Inc. Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/franklin-resources/.
Original SEC source View on SEC ↗
Franklin Resources, Inc.. DEF 14A. Filed 2025-12-22. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/38777/000114036125046314/ny20055304x771_def14a.htm

Permanent URL: https://creately.com/org-chart/fortune-500/franklin-resources/ · last updated 2026-04-01

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