Fiduciary Trust International

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Henry P. Johnson Named Chief Executive Officer; James C. Goodfellow Continues in Role as Chairman

New York, June 2009


Fiduciary Trust Company International, a leading wealth management firm and wholly-owned subsidiary of Franklin Resources, Inc., today announced the following planned organizational changes effective October 1, 2009:

  • Henry P. Johnson, age 43, president and co-chief executive officer, will assume full CEO responsibilities and retain his role as president. 
  • James C. Goodfellow, age 64, chairman and co-chief executive officer, will continue his role as chairman and transition his CEO responsibilities to Johnson. 
“The stewardship of Fiduciary Trust by a team of effective leaders, and the smooth succession of leadership over time, has been critical to the firm’s success,” said Anne Tatlock, current member of the Board of Directors of both Franklin Resources and Fiduciary Trust, and former chairman and CEO of Fiduciary Trust.  “Having worked closely with Jim and Henry for many years, I can attest to their leadership, business acumen, and commitment to our clients.  Fiduciary Trust has always devoted the same care to planning transitions of its own leadership as it has to intergenerational wealth planning for its clients. The transition to Jim and Henry's new roles, grounded in their long experience with the firm, is testament to that process."

“In today’s uncertain economic climate, clients turn to Fiduciary Trust for the same reason they did at its founding nearly 80 years ago - a culture of integrity, a deep understanding of clients’ wealth management needs, and a commitment to the safe-keeping of client assets,” said Gregory E. Johnson, president and CEO of Franklin Resources and a Fiduciary board member.  “Fiduciary’s conservative, highly personalized, relationship-centric approach to wealth management remains its hallmark, helping individuals and families grow and preserve their wealth, now and for future generations.”

James Goodfellow joined Fiduciary Trust in 1994, becoming chairman in the fall of 2006 and co-chief executive officer in December 2006.  In addition to sharing the day-to-day management of the firm since being named co-chief executive officer, Goodfellow has focused on business development, legal matters and compliance initiatives.  During his 40 years working in wealth management, Goodfellow has earned great respect from colleagues, clients and their advisors.  His strong leadership and commitment to the business along with his vision and commitment to Fiduciary’s employees have been instrumental in the firm’s success. Fiduciary will continue to benefit from Goodfellow’s leadership in his role as chairman.

Henry Johnson also joined Fiduciary Trust in 1994.  Since becoming president in December 2005 and adding co-chief executive officer to his title in December 2006, Johnson has shared the day-to-day management of the firm with a particular focus on building the firm’s investment management capabilities, improving operational excellence and enhancing the firm’s banking capabilities.  As his roles have expanded over the past several years, Johnson has worked with Goodfellow and the firm’s management team to lead Fiduciary Trust through a challenging and evolving business environment.  Johnson and the firm’s long-serving management team will continue to successfully leverage Franklin Templeton’s global resources for the benefit of Fiduciary Trust’s clients.
 
Fiduciary Trust Company International, a leading wealth management firm has served individuals, families, endowments and foundations since 1931. The firm specializes in strategic wealth planning, investment management, trust and estate services, as well as tax, banking and custody services. Fiduciary Trust maintains offices in New York, Miami, Sarasota, St. Petersburg, Los Angeles, San Mateo, Washington, D.C., Wilmington, London, Hong Kong and Grand Cayman. For more information on Fiduciary Trust Company International, please visit www.fiduciarytrust.com. 

Fiduciary Trust Company International is a wholly-owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and $448.7 billion in assets under management as of May 31, 2009.  For more information, please call 1-800/DIAL BEN or visit franklintempleton.com.

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Henry P. Johnson Named Chief Executive Officer; James C. Goodfellow Continues in Role as Chairman

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