In a bid to boost its business growth, Franklin Templeton Canada has announced the appointment of Manmeet Bhatia as the new head of Private Wealth and William (Bill) Tsotsos as the head of Institutional. Bhatia has played a key role in boosting the expansion of the company’s private wealth business, while Tsotsos has been instrumental in enhancing and developing its institutional business in Canada.
Duane Green, President & CEO, Franklin Templeton Canada, said,
“After 65 years in the Canadian market, our commitment to providing exemplary service and investment solutions for our clients continues to remain strong. As the private wealth and institutional spaces evolve, we are deepening our bench with the leadership additions of Manmeet and Bill to better address the multifaceted needs of our clients.”
Bhatia has vast experience of more than 20 years in the financial industry. He played a crucial role in managing and handling the company’s private wealth policies in Canada to meet the ever-growing investment and wealth management requirements of elite clients and discretionary. Bhatia is also entrusted with the task of supervising the private wealth channel, including FTC Investor Services Inc., Fiduciary Trust Canada, and various key initiatives. He reports all this to the Duane Green in Toronto.
Earlier, Bhatia held the prestigious positions of executive and senior leadership at wealth and asset management companies. He held leading positions with several renowned companies, including Aviso Wealth, Qtrade Financial Group, and Assante Wealth Management.
Meanwhile, Tsotsos will be responsible for executing key responsibilities and lead the company’s Canadian business planning in various spheres, which will include relationship management, sales, and consultant relations. He will be based in Toronto and report to Green just like Bhatia. He is also expected to collaborate with the company’s product specialists, portfolio managers, marketing teams, client service to chalk out sales plans and enhance Franklin Templeton’s institutional business.
Tsotsos completed his graduation in Economics and Political Science at the University of Toronto and MBA from Queen’s University.
Meanwhile, the latest study has revealed that Canada and New Zealand have emerged as the most unprotected economic countries in the sphere of correction in house prices. Popular Economist Niraj Shah sought to create a dashboard for a sharp surge in housing prices and added several subjects like house price-income ratio, house price ratio, real house prices, and credits to houses. He read the ratios of house price rent and house price income and studies real house prices and household credit.
The study claimed that New Zealand and Canada appear at the top rank in the dashboard and believed to be as one of the most unsteady paths. When the housing prices were compared with the income, they were found to be highest all across the globe in both Canada and New Zealand.
Policymakers have been mulling several initiatives to tackle the present scenario and may have to take some crucial steps. The Canadian government introduced a ”tax on foreign buyers.” New Zealand has slapped an immediate ban on foreign purchase of land. Meanwhile, Federal Reserve and several central banks are planning to bring down the interest rates. It appears to be the next biggest challenge for many countries if housing price continues to surge or decline.